Existing evidence on the impact of climate risk on real estate valuations: A systematic map

This paper presents a systematic map of evidence on how physical climate risks and transition climate risks affect real-estate valuation. The authors assessed academic and grey literature published between 2014 and 2023, using a systematic mapping approach. Searches were conducted in Scopus, Web of Science and Overton, and the final corpus consisted of 130 documents.

The evidence was coded according to a predefined framework covering geographic distribution, evaluation methods, real-estate asset types and impact assessment approaches. The review finds that the evidence base is dominated by studies quantifying physical climate risk effects on real-estate values, most frequently related to coastal and fluvial flooding and commonly using econometric capitalization approaches.