Investigation of the Effects of Flood on Property Values in Asaba, Delta State

Recurrent flooding poses a direct threat to property values and real estate market stability in flood-prone Nigerian cities. This study investigates the effects of flood events on residential and commercial property values in Asaba, the capital of Delta State, which has experienced significant flood incidences linked to Anambra River overflow and inadequate urban drainage. A descriptive research design was employed, using hedonic pricing survey data collected from 190 property owners, estate agents, and valuation officers in selected flood-affected neighborhoods. The survey captured flood history, flood depth experienced, property damage costs, insurance coverage, and self-reported changes in property market values following major flood events. Data on flood extents and return periods were obtained from the Delta State Emergency Management Agency and the Nigeria Meteorological Agency. GIS mapping was used to create a spatial overlay of flood zones against property value estimates. Findings are expected to demonstrate statistically significant property value depreciation in flood-prone zones, with implications for mortgage availability, investment decisions, and local government revenue from property taxes. The study also examines residents' risk adaptation strategies, including elevation of floor levels and construction of compound walls. Recommendations address integration of flood hazard mapping into Asaba's property development regulations, mandatory flood risk disclosure in property transactions, and investment in drainage infrastructure to reduce property market uncertainty in flood-affected zones. Keywords: Flood impact, Property values, Asaba, Real estate, Urban planning.