The Impact of Flood Events on Residential Property Values of Semi-Detached (Semi-D) in Selangor and Klang Valley, Malaysia: A Study of Microeconomics and Macroeconomics Indicator
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Abstract
This research aims to investigate the impact of floods on residential property values in Selangor and Klang Valley, Malaysia. To understand the intricate relationship between property values and flood incidences, the research explores both macroeconomic and microeconomic aspects. The principal objectives are to identify significant factors influencing semi-detached (Semi-D) home values and assess the effect of flood catastrophes on the housing market. The research method employed a multiple linear regression approach to investigate the relationship between macroeconomic and microeconomic factors and the average price of semi-D houses in Klang Valley. The chosen independent factors are the length of the flood, its depth, the number of bedrooms, the built-up area, the population density, the rate of unemployment, inflation, and GDP. Data from 2000 to 2020 is gathered and evaluated to gain insight into how patterns of property values change in response to flood occurrences. The study indicates that built-up area, population density, and flood duration have a substantial influence on the average cost of semi-D homes in Klang Valley. Floods have a detrimental impact on property values; the longer they last, the lower the prices. Furthermore, there is a positive association between property values and population density, indicating higher demand in locations with high population densities. The results also emphasize how crucial it is to consider variables such as GDP, inflation, unemployment rate, number of bedrooms, and flood depth to fully understand the intricate link that exists between flood occurrences and property values.
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