Motivations for Investing in Flood Risk Environments: An Agreement Analysis between Property Investors and Estate Agents

摘要: Landed property often exhibits scarcity and strong demand, especially in the most sought-after places. Therefore, real estate investors may be attracted to locations such as flood-risk areas that may pose a substantial threat to human life and property. Furthermore, some environments may not have experienced floods in the past but are nonetheless susceptible to future occurrences. Flood occurrences are progressively more frequent because of several natural and anthropogenic factors, including urban sprawl. Nevertheless, construction projects and real estate investments in flood-prone areas persist globally. The objective of this study is to examine and comprehend the process by which perceptions of flood risk are shaped and how they, together with other variables, might impact investment choices in Lagos, Nigeria. The selection of the study locations (Ibeju-Lekki and Ikorodu) was based on their well-documented flood risk features, the hydrological estimates made by the Nigerian meteorological agency, and their high population density. An inquiry was conducted by administering questionnaires to property investors and estate agents within the study location. The findings highlight a clear stratification of motivations for real estate investment in flood-risk areas, with some factors emerging as the most significant drivers of decision-making. Results also suggest that investors place high importance on key considerations, potentially related to economic incentives or market opportunities, while other factors are perceived as less critical or more subjective. Understanding these motivations can help policymakers and real estate professionals better …