Business · Economy · 1 hr ago
Homes in flood-risk areas lose value after 2024 Valencia floods
A study found that homes in Spain’s highest flood-risk areas lost about 8% of their value after the deadly floods in Valencia in October 2024.
The disaster killed 232 people and raised public awareness of flood risk.
Before the floods, homes in high-risk areas had cost 7% to 10% more than homes in safer areas, partly because buyers valued living near water.
The study compared 3.4 million property transactions from 2007 to October 2025 with official flood maps.
Apartment prices fell more sharply, by 9% to 10%, while repeat sales showed a smaller decline of 4% to 5%.
The price drop occurred across Spain and was strongest in the area hit hardest by the Valencia floods.
The study’s author says flood exposure should be recorded in property deeds, but a government decree that would have restricted building in high-risk areas has lapsed.
A study found that homes in Spain’s highest flood-risk areas lost about 8% of their value on average after the October 2024 Valencia floods.
The decline was greater for flats, at 9% to 10%, compared with properties in safer areas.
Before the floods, homes in high-risk areas had cost 7% to 10% more than homes not exposed to those hazards.
The study analysed 3.4 million property transactions recorded between 2007 and October 2025.
Researcher José García Montalvo says flood exposure should be recorded in property deeds.
- Who
- The study was conducted by UPF professor José García Montalvo.
- What
- Homes in high flood-risk areas lost about 8% of their value on average relative to homes in safer areas after the Valencia floods.
- When
- The floods occurred in October 2024. The study analysed transactions from 2007 to October 2025.
- Where
- The effect was found across Spain and was strongest in the Valencia flood disaster’s “ground zero” area.
- Why
- The disaster raised public awareness of flood risk, prompting a reassessment of property values.
This story does not have two clearly opposing sides.
All this, despite the hazard maps having been public for more than a decade through the National System of Flood Zone Cartography (SNCZI).
The Valencia floods killed 232 people and, according to the study, marked a turning point in attention to storms and their effects.
The study’s property transaction data extended through this month.
- Average value change
- About 8% lower in the highest-risk areas than in safer areas
- Flats
- Prices fell by 9% to 10%
- Pre-flood price premium
- 7% to 10% for homes in high-risk areas
- Transactions analysed
- 3.4 million
- Data period
- 2007 to October 2025
- Flood deaths
- 232 people in the October 2024 Valencia disaster
Sources
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