The term “man-made disaster” refers to a disaster event caused directly by human actions such as infrastructure failure, industrial accidents, or pollution. These events can potentially lead to negative impacts on the real estate market in affected areas.
For example, a significant industrial accident resulting in pollution could potentially decrease property values in the surrounding area due to health and safety concerns. Furthermore, the stigma associated with such events might make potential buyers hesitant to invest in those areas.
Moreover, in the aftermath of such a disaster,