Resilience and sustainability: Engineering solutions in disaster‐affected real estate markets

Abstract

AbstractNatural disasters such as cyclones, earthquakes, floods, wildfires, and so on, have a profound influence on real estate. It often results in fluctuations in property values, demand dynamics, and development patterns within affected regions. Reconstruction efforts following natural disasters are critical for restoring property values in affected areas. This study aims to analyze the complex relationship between natural disasters and their effects on real estate trends and examines the role of engineering practices in post‐disaster reconstructions. The data for this investigation was gathered from 411 participants including disaster management experts, real estate professionals, and engineers, and SPSS was exploited to analyze it. The findings identified that natural disasters strongly affect the trends in the real estate market and lead to modifications in the values, demand, and development patterns of properties. The analysis reveals that the use of engineering practices in reconstruction efforts leads to improved structural resilience and long‐term sustainability in disaster‐affected real estate. The novelty of this study lies in the exploration of how natural disasters impact real estate trends and the innovative engineering practices employed in post‐disaster reconstructions, providing insight into crucial strategies for disaster‐resilient real estate development. The result identified that the use of engineering practices in reconstruction positively affects property demand as buyers seek resilient and safe real estate options. Furthermore, the findings demonstrate that stringent government policies promote disaster‐resilient real estate development and reconstruction.