Location, location, location has been a byword for all parties related to the real estate industry for a long time. This word is still applicable in all situations, even in the country's worst inundation last year. People are now looking for non-flooded locations.
Flooding has become a new decision-making factor to consider when buying a house, acquiring land and approving home loans and it will also affect the design of houses, condominiums and property projects which will all require flood-protection systems.
During the flood, all low-rise projects in flood zones experienced no sales, while those in non-flooded locations experienced usual or lower sales due to the depressed market sentiment. The fourth quarter is generally the most active season for home purchases.
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