ADVISING ON FLOOD RISK – OPPORTUNITIES AND CHALLENGES ACROSS INTERNATIONAL COMMERCIAL PROPERTY MARKETS
AffiliationUniversity of Chester, Nottingham university, GHZ Berlin, University of East Carolina, University of West of England, Birmingham City University, UTS Sydney
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AbstractThere is an increasing body of research which identifies the need for flood risk mitigation advice and the potential for building professionals such as surveyors to be involved. This research explored the potential for surveyors to play a greater role in advising on at-risk commercial properties to better manage risk within the commercial property sector. Through a series of 72 expert interviews of professionals in the field of flood risk management in five international markets (UK, US, Australia, China and Germany), the research developed a picture of the current and potential role surveyors can play in providing professional advice on flood risk affected commercial properties. The interviews revealed that a wide set of opportunity lies in expert surveyors’ technical and local knowledge and understanding of risk mitigation and damage reduction processes, building typology, commercial land use, property valuation, and insurance schemes. However, their ability to offer flood specific advice is constrained by lack of: flood related expertise and training, market demand, client awareness of flood risk and, an willingness to invest in advice and mitigation measures on behalf of clients. The research highlights the need for collaborative practice to enable well informed all round advice on flood risk resilience. The findings also highlight the need for additional flood risk education and training for surveyors to assist them to provide improved risk mitigation advice.
CitationBhattacharya-Mis, N., Lamond, J., Chan, Faith., Kreibich, Heidi., Montz, Burrel.,l Proverbs, David., Wilkinson, S., (2018) Advising on flood risk – opportunities and challenges across international commercial property markets. RICS COBRA Conference, London.
DescriptionThe papers in this proceeding are intended for knowledge sharing, stimulate debate, and research findings only. This publication does not necessarily represent the views of RICS or University College London.
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