Impact of floods on real estate in Bavaria

Abstract

The impact of floods on real estate in Bavaria has raised a significant concern recently due to the notable increase in the frequency and intensity of flood events in the region. This impact of floods in Bavaria was noticed by the German government, because Bavaria is considered the capital of economy in Germany and also because Bavaria has witnesses unbelievable damages and losses in the last 20 years. This study aims to investigate the consequences of floods on the real estate sector in Bavaria in the last 20 years, focusing on the economic, social, and environmental implications, through a comprehensive analysis of data collected from surveys and interviews with affected property owners, as well as other information from governmental reports and academic studies. The study examines the extent of damage to properties, financial losses incurred, insurance coverage status and the depression in the value of real-estate on the long-term in vulnerable areas. The Finding calls for enhanced flood resilience strategies in the real estate sector and highlights the importance of flood risk awareness and preparedness among property owners, as well as the role of insurance coverage in mitigating the financial impact of floods. Additionally, it presents new mitigation strategies that have been implemented in Germany and in different vulnerable areas all around the world with similar conditions, providing some recommendation and guidelines on new constructions and real-estate industry, to inform policymakers and stakeholders on effective strategies to minimize the impact of floods on real-estate in Bavaria.Video (COP26 youtube highlights, Geostorm movie 2017, Emergency on Planet Earth organization -diasters youtube video ) Editted by Yousseif Shokr