RT Journal Article
T1 Impact of climate risk materialization and ecological deterioration on house prices in Mar Menor, Spain
A1 Lamas Rodríguez, Matías
A1 García Lorenzo, María De La Luz
A1 Medina Magro, Manuel
A1 Pérez-Quirós, Gabriel
AB The frequency and severity of extreme events related to climate change have intensified worldwide in the last decades. It is documented that increasing extreme rainfall and flooding cause more nutrient runoff into waterbodies, initiating numerous harmful algal bloom (HAB) events, especially in fragile ecosystems. We analyze the dramatic economic damage of one of these episodes in Mar Menor, the largest salt-water lagoon in Europe. We show that when the public perceived the severity of environmental degradation, the return on housing investment was 43% lower in the surroundings than in similar neighboring zones 6 years after the HAB (2015). This represents a loss in housing wealth of more than 4000 million euros, around ten times the gains of changing from dry-farming to irrigated crops, which makes this ecosystem fragile. Hence, we quantify some of the economic consequences of ecological deterioration linked to episodes of Global Climate Change.
PB London Nature Publishing Group
YR 2023
FD 2023
LK https://hdl.handle.net/20.500.14352/91912
UL https://hdl.handle.net/20.500.14352/91912
LA eng
NO Lamas Rodríguez, M., Garcia Lorenzo, M.L., Medina Magro, M. et al. Impact of climate risk materialization and ecological deterioration on house prices in Mar Menor, Spain. Sci Rep 13, 11772 (2023). https://doi.org/10.1038/s41598-023-39022-8
DS Docta Complutense
RD 2 oct 2024