The national water agency said there are now 66 flood-prone areas in Singapore, mostly low-lying areas like Jalan Besar and Bukit Timah.
Although residents in these areas are spending extra money to make their homes more flood-resistant, they are not worried that the value of their properties will be affected.
According to a Sunday Times report, several residents pointed out that the flood-prone list covers areas all over the country.
“Surely property prices cannot be dropping islandwide,” said Howard Ang, a businessman who lives in Meng Suan Road in Upper Thomson. “And if they are, then the effect is balanced out.”
Some property agents said that prices of landed homes, such as detached and semi-detached houses, have held steady through the floods. These types of properties are more likely to be affected by floods compared to condominiums and flats, which commonly have carparks and void decks that bear the brunt of flooding.
They noted that the limited number of private homes means prices are unlikely to be affected.
“If you want to live in a landed home, you have fewer options to choose from,” said Michael Chew, an Associate Team Director at PropNex.
He said that most landed properties are located in popular districts like Bukit Timah and Orchard Road, whose prime locations overshadow the floods’ negative impacts.
Some residents also said that the list of flood-prone areas does not represent the whole area. They noted that only a few streets and junctions in any particular area are prone to floods during heavy rains, despite the whole area being labelled flood-prone.
Mr. Ong Peng, who lives in Katong, pointed out that only the junction of Jalan Seaview and Mountbatten Road are flood-prone.
“I’ve lived here for more than 30 years and I’ve never been affected by floods before, although my street is listed as a flood-prone area,” he said.
Some residents have expressed confidence that buyers will do their research and not be discouraged by the list, while others believe that people who acquire property will usually opt for renovation work before moving in.
Ms Amelia Ding, Associate Marketing Director at property agency GPS Alliance, said home sellers are unlikely to settle for less money because of the floods.
“Sellers have told me, if people can afford to buy such high-end properties, they can afford to raise the houses by a few inches,” she said.
Both property agents and residents said the PUB should fine-tune the list.
Mr. Edward Chng, a communications manager living in Lorong Buangkok in Hougang, said the current PUB list is too conservative.
“Most low-lying areas are included in it. What is important is for the agency to identify the areas that actually flood, and then it should do something about those places so that even that list is not necessary,” he said.
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