Description:
This cartographic product represents estimated property values across Europe in €/ha (2021 currency), integrating national property prices with local economic data. Given the lack of detailed property value databases, the estimation is based on a national-scale model, assuming a linear relationship between property value and regional income. The map is built using Numbeo’s national property prices (outside city centers), adjusted with EUROSTAT GDP per capita ratios (2019) at national and NUTS2 levels. To refine spatial distribution, a 2015 gridded GDP dataset was applied. Additionally, potential fire damage to properties is assessed using loss coefficients based on construction material (concrete or wood) and fire intensity, though these coefficients remain unvalidated. The product provides a spatialised representation of property values and potential economic losses due to fire across Europe.
The value of properties is made by correcting national prices provided by Numbeo by the local GDP per capita. Details are provided by Martino et al. (2023). The property values are expressed in €/ha (2021 currency). Due to limited property data, values were estimated at a national scale using DGP maps, assuming a linear relation between property value and regional income. The baseline was the national average property value outside city centres from Numbeo website, adjusted using EUROSTAT GDP per capita ratios (2019) at both national and NUTS2 levels. To map the values of properties in Europe, a 2015 GDP dataset was used, adjusting local GDP by national GDP and applying spatial corrections. Numbeo values, originally in dollars, were converted to euros using 2021 exchange rates (0.84). Damage to properties is assessed by correcting the property values by a coefficient of loss, which is function of the material of the property (concrete or wood) and the intensity of fire. These coefficients of loss are proposed by the research team but not yet validated.
Contact: Simone Martino, HUTTON: simone.martino@hutton.ac.uk
Clara Ochoa, UAH: mclara.ochoa@uah.es