Arbeitspapier
German residential real estate valuation under NGFS climate scenarios
We combine data on real estate online listings and climate scenarios from the Network for Greening the Financial System (NGFS) to estimate changes in real estate valuations due to changing expectations about future energy costs. Using a simple theory of the relation between prices and energy consumption, we find that the most ambitious climate scenarios potentially come with significant impacts on real estate prices and thus the collateral value of inefficient homes. In the aggregate, losses in housing values and thus collateral could lie in the range of 11 to 13% of the aggregate housing value.
- Sprache
-
Englisch
- Erschienen in
-
Series: Technical Paper ; No. 09/2021
- Klassifikation
-
Wirtschaft
Housing Supply and Markets
Energy: Demand and Supply; Prices
Climate; Natural Disasters and Their Management; Global Warming
- Thema
-
Residential Real Estate
climate transition risk
climate scenarios
CO2 taxation
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ter Steege, Lucas
Vogel, Edgar
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsche Bundesbank
- (wo)
-
Frankfurt a. M.
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ter Steege, Lucas
- Vogel, Edgar
- Deutsche Bundesbank
Entstanden
- 2021
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