I could just imagine people who were selling the houses in new subdivisions in Pasig and Marikina which were priced between 2-4 million. A similar townhouse we liked in Antipolo priced at 1.6 million was priced around 2.5-3 million in Pasig. The townhouses were almost sold out and I pity people who just bought their house in Pasig. Pasig area was priced high because of its proximity to Makati, Mandaluyong and Quezon City area but after the floods, what will be the land value per sq. meter in Pasig. Even in Marikina, houses in Provident Village were upscale since it is one of the prime properties in the city. Definitely, people who are looking to buy a house would definitely avoid Pasig and Marikina areas now.
There were also several areas in Quezon City that were flooded during Typhoon Ondoy. Manila, Malabon, Kalookan, some parts of Makati and Taguig were also flooded. I did not hear any serious flooding in Cavite and Laguna areas except Sta. Cruz which was too far. Does this mean it is safe to consider investing a property in Cavite and Laguna?
Land values started to increase whenever a mall, school or an upscale subdivision gets constructed. This is a factor to consider but realty companies should also consider elevation, good drainage and proper zoning. Ordinary people like me do not know these things and we get to be carried away whenever the land is developed by a well known real estate company. How about condominums? Is it now safe to say that it is better to invest in a condo so there is a less chance of being flooded? What if the area gets flooded too? Is it better to be stranded than to see your house gets flooded?