Assessing the Financial Ripples of Floods on Real Estate Values in Southeast Asia
Floods are an annual phenomenon in Malaysia due to the northeast monsoon that brings heavy rain from November to March, which brings significant loss of homes, income and lives. Based on a study by DOSM, the overall losses in Malaysia due to floods amounted to USD 1.342 billion, of which living quarters amounted to USD 352 million. More than 5,500 and nearly 6,500 flood evacuees fled from their homes in Johor and Sabah amid the monsoon flood in January 2023 according to a report by CNA.