Effect of Flooding on Property Value: A Case Study of Isheri North, Isheri, Lagos State

International Journal of Research and Scientific Innovation (IJRSI) | Volume VII, Issue IV, April 2020 | ISSN 2321–2705

Effect of Flooding on Property Value: A Case Study of Isheri North, Isheri, Lagos State

Ogungbemi, A.O¹; Fagbemi, K.B.²; Abdul, N.A.³; Eniolawun, O.S.⁴; Obatuase, B.⁵; Hassan, Y.O.^6
 1Department of Estate Management and Valuation, Lagos State Polytechnic, Nigeria
²Department of Architectural Technology, Federal Polytechnic, Ile-Oluji, Ondo State, Nigeria
^3,4,6Department of Urban and Regional Planning, Lagos State Polytechnic, Nigeria
⁵Department of Quantity Surveying, Lagos State Polytechnic, Nigeria

Abstract:- This paper assesses the effect of flooding on property value in Isheri North of Lagos mega city, Nigeria. The sample frame for this study comprises of 251 properties located in the study area out of which 20% was sampled represent 50 respondents in order of 1 house of every 5 houses; and 20 Estate Surveying and Valuation Firms on Isheri, Ojodu, Omole, Ikeja environ. Random sampling technique was adopted in the selection of the sampled properties. Data collection was done with the administration of instrument (questionnaire) on the selected respondents. The result of the findings shows that 96% of the respondents have witnessed flood which is caused by heavy rainfall, damp spills, poor drainage system, inappropriate refuse disposal was suggested to the respondents. The study reveals that properties in non-flooded areas of Isheri community attract higher rental values than similar properties in the flooded area of Isheri North. The study recommends needs for public enlightenment on the dangers of flooding and restriction of flood-prone areas as not non-buildable zone for the security of life and property.

Keywords: Flooding, Property Value, Isheri North, Isheri, Lagos State

I. INTRODUCTION

Flooding has been identified as the most common natural disaster (Hajat et al, 2006) and one of the major disasters affecting the growing population of the world. Flooding can be defined as an overflow that comes from a river or other body of water and causes or threatens damage. It is a situation that results when land that is usually dry is covered with water from overflowing river or heavy rain, flooding occurs naturally on the flood plains which are prone to flood disaster (Omisore, 2011). in the Czech Republic, in July 1997, floods killed 46, injured 2,500 people and about 50,000 people were evacuated from their homes.
The Niger River floods that occurred in August 2010 killed 30,000 animals, destroyed 500 homes and 20,000 people faced homelessness due to heavy rainfall in West and Central Africa (UN, 2010). Also, in October 2010, 15 days of floods and torrential rain in the Benin Republic killed 43 people, left 97,815 and 55,000 home destroyed (UN, 2010).

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