A nature park in an urban area, which generally includes environmentally valuable natural landscape such as forests, mountains, rivers, and beaches, provides valuable benefits for the public such as recreational opportunities and an aesthetic landscape. However, residents near nature parks could be more vulnerable to natural disasters like floods, tsunamis, and landslides. In order to understand the trade-off between the amenity and hazard effects of nature parks, this study explores the case of the Woomyeon Nature Park (WNP) in Seoul, Korea, which experienced a catastrophic landslide disaster in 2011. The hazard and amenity effects of the WNP before and after a landslide event are analyzed using a difference-in-difference approach with a random coefficient model. The results show that the amenity effect of the WNP has continued after the landslide disaster in apartment complexes near the WNP, but its housing market premiums have fallen by up to 11.3% since the event due to the risk of landslide. The existence of the WNP hazard effect underlines the importance of disaster prevention efforts in urban open space design and management.
Bibliographical noteFunding Information:
This work was supported (in part) by the Intramural Research Program of the NIH, NCI, Center for Cancer Research; Department of Science and Technology, Guizhou Province, under grants G7020 and J2003; University of Macau under grants SRG2014-00024-ICMS-QRCM, MYRG2016-00023-ICMS-QRCM, and MYRG2017-00120-ICMS; and the Science and Technology Development Fund of Macao SAR (FDCT) under grant 014/2015/A1.
© 2016 Elsevier B.V.
All Science Journal Classification (ASJC) codes
- Nature and Landscape Conservation
- Management, Monitoring, Policy and Law