The influence of sentiments on property owners in post-disaster rebuild

Abstract

PurposeThe purpose of this paper is to provide a nuanced understanding of the complex factors driving the decision of commercial property owners (investors and developers) to stay and rebuild after a major disaster. The study examines what happens in the post-disaster rebuild of a central business district (CBD) from the perspective of commercial property owners in Christchurch, New Zealand.Design/methodology/approachAn interpretive approach is adopted to understand what it takes to rebuild in a post-disaster environment through the lens and experiences of property owners. The study has observed the significant physical changes that have occurred in the Christchurch CBD as a result of the earthquakes. For this study, qualitative data were obtained through semi-structured interviews from 20 purposively identified property owners rebuilding the Christchurch CBD. The interview findings were subjected to a thematic analysis used to provide a factual way of characterising the viewpoints of those interviewed.FindingsThe findings have highlighted that the decision-making behaviour of property owners in Christchurch’s CBD post-disaster rebuild has been driven significantly by an emotional attachments to people and place.Practical implicationsThe global trend in increasing destruction from natural disasters has raised the need for more efficient and effective post-disaster responses and activities. The paper has developed a knowledge base required to inform public policy and advice all those involved in the rebuilding of cities after a major disaster.Originality/valueThis paper contributes to the property literature and debates about the decision-making behaviour of commercial property owners who are engaged in rebuilding after a major natural disaster. The qualitative methodology used presents a novel approach to property research. The findings challenge the underlying premises of much of the mainstream property literature on normative investment behaviour and decision making.