Summer is over and the rainy season will take the center stage. During this season, floods are very evident not only in rural areas but on cities as well.
According to a research conducted in the United Kingdom (UK) last 2009 which analyses the impact of flooding to the property value, flooding causes a temporary impact on property values, a decrease on its market value. However, it will return to its normal market value after three years and the impact differs on the level of risk on the areas flooded. This is a matter of great concern for the home owners as well as valuation professionals and mortgage lenders.
Flooding is no more new to Philippines. It causes damages and eventually destroys houses, schools, buildings, bridges and the likes. We cannot completely make a property flood proof but we can do the following to lessen flood damages.