Floods and the Property Prices in Apia

Written by Business Correspondent
Saturday, 26 January 2008
The extensive flooding around the Central Business Disrict of Apia is now expected to lead to property valuers bringing into their calculations the impact of the worsening flood zones into their future valuations of real estate in Apia. The fast growing business areas around the Fugalei market are now likely to see their future real estate values being eroded as flooding in Apia is now expected to get worse without any proper legislation and adminsitration of reclamations around the mangrove areas of Fugalei. However the good news will be that the properties which are well drained and not subject to flooding are now expected to record further price increases The real estate prices around the present flood zones of Fugalei are averaging around the $10,000 a perch ( $1.6 million an acre) and rising to the recent top real estate prices of $35,000 a perch ($5.6 million an acre) in the central business district of Apia. Comments (0) Subscribe to this comment's feed Write comment Name Email Title Comment
Last Updated ( Sunday, 27 January 2008 )

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