THE Klang Valley has been battered by torrential climate over the latest months, with many residential areas being hit by flash floods.
While flood occasions in Malaysia will not be categorized as excessive disasters, they’ve an adversarial impression on the inhabitants and trigger important injury to properties.
PPC International managing director Datuk Siders Sittampalam says overflooding in a selected locality can have an effect on property values.
“Historically, it would affect demand for residentials within that locality.
“Buyers may look at other places while owners in flood-prone areas may want to sell their properties,” he tells StarBizWeekSavills Malaysia Sdn Bhd group managing director Datuk Paul Khong says property costs and values are inversely affected by the severity and frequency of the flash floods.
“As this is becoming a repetitive problem in the Klang Valley, many badly affected flood-prone areas are now becoming a concern and with this continuing, these neighbourhoods become blighted and less desirable as basic property locations.
“On a long-term basis, it will have drastic implications to capital values, actual real demand and usage. The flash floods are becoming a nightmare to all the affected properties.”
City Valuers & Consultants Sdn Bhd actual property providers and enterprise growth head Ruben Kelvin agrees that properties in flood-prone areas could have much less demand.
“On top of that, post-flood effects can lead to further depreciation of a property where homeowners will have to set aside funds for structural repairs.
“With the rise of raw material costs, repairs can become expensive.”
Khong: If no motion is taken, these areas will fall into disrepair and we’ll see a serious impairment in values.
Additionally, Ruben says conducting restoration or renovation works in flood-prone areas can lead to regulatory and insurance coverage points, thus making the fixing and repairing course of far more troublesome for owners.
“High-rise units such as apartments and condominiums will also be affected with the common areas, parking bays and lifts sustaining damage.”
Khong says developments inside flooded zones will face an uphill activity with regards to promoting the property, be it in the main or secondary market.
“Prices will be directly impacted as potential buyers and residents will tend to avoid low-lying areas with flood issues or units situated near a river, for instance.”
However, Siders says the impression to the worth of the property would finally rely upon whether or not demand will get affected.
“If demand is good in that locality due to excellent access to public transportation and amenities, then, regardless of weather conditions, the impact would be mitigated.
“It all really depends on how much sentiment is affected and if initiatives have been taken by the authorities to mitigate the impact of the flash floods.”
Additionally, Siders says Malaysians are recognized to “move on” from disasters pretty rapidly.
“When the Highland Towers landslide tragedy occurred back in 1993, there was an immediate decline in transactions within that locality. But it was only for the short term.
“Right after the incident, the authorities came up with stringent highland development regulations. It wasn’t long after before buyers got their confidence back again.”
Siders believes {that a} comparable development may be anticipated of flood-prone areas if the related authorities took speedy, preventative measures that may assist to regain the confidence of potential homebuyers.
Resolving the subject
Ruben: Flood forecasting like telemetric warning methods and evacuation measures may be executed for areas which are flood-prone.
Khong says the authorities must step in and undertake correct mitigations to counter the flash flood issues urgently.
“There is also a need to clearly address the density of buildings within the city and drainage infrastructures.
“If no action is taken, these areas will fall into disrepair and we will see a major impairment in values.”
He says the Kuala Lumpur City Hall must work collectively with the federal authorities to attempt to resolve the unending flood points.
“Conduct an investigation and realistically study the existing roadworks and the high-rise developments, as well as the surrounding infrastructures that are contributing to the floods.
“A proper long-term solution is now extremely critical and upgrading the existing and/or introducing a new drainage system, perhaps even better than the existing Smart Tunnel, is paramount to handle these flash floods.”
Meanwhile, Ruben, who can also be enterprise growth head of Greenhill & Mason Sdn Bhd, says there are a number of structural and non-structural measures that may be taken to resolve the flash flood scenario in the Klang Valley.
In phrases of structural measures, Ruben says storage ponds may be utilised to deal with floods.
“The objective is to divert the flood water though such ponds and regulate the outflow so that flood peaks are attenuated.
“This strategy has been used in the case of the Batu/Jinjang Pond Project in Kuala Lumpur, where excess water was diverted from Sungai Gombak to the Batu Pond for temporary storage; and from Sungai Keroh to the Jinjang Pond.”
Ruben provides that flood management dams may also be constructed to retain flood water with a view to defend areas downstream.
“The Klang Gates Dam is an example of a dam built for water supply but also serves as a flood mitigation dam.”
Where future infrastructure and roadworks are involved, Ruben says flood diversion channels or tunnels may be constructed and function each a storm climate channel and a motorway.
“A good example of this is the Smart Tunnel system and this concept was believed to be the first of its kind at that time.”
Ruben provides that non-structural measures may be proposed the place engineering means will not be relevant or viable.
“Flood forecasting like telemetric warning systems and evacuation measures can be done for areas that are flood-prone to help homeowners mitigate any loss or damage.
“Guidelines and design standards can be prepared in specifying clear technical requirements for river reserves, as well as flood mitigation and urban drainage projects.”
