The Delphi method to identify attributes for a valuation approach for residential property exposed to flood risk

Abstract

PurposeThis study is aimed to identify the attributes for a valuation approach of flood risk exposure, in particular for residential property. With frequent flood events in Malaysia, there is a need for valuation methods to evolve and represent the increased risk of natural disasters.Design/methodology/approachThis study employed the Delphi method which is a systematic and interactive research technique in obtaining variables for a valuation approach for residential property exposed to flood risk.FindingsResults from the Delphi method revealed four categories of attributes, namely environmental, locational, structural and economical.Originality/valueThe findings from this research will transform the valuation approach in Malaysia to identify the value of residential property exposed to flood risk. The determination of variables will represent the current risk in valuations, especially for residential property in flood-prone areas.