Source: Ask Wire
There have been numerous occasions in recent years when the Pedieos River's overflow has resulted in serious issues. Since it is expected that the bridge will be closed whenever mother nature causes the Pedieos to swell, one could say that the closure of the bridge on Alexandroupoleos Street, close to the Strovolos Town Hall, has become an institution.
Because extreme weather events are now being recorded with greater frequency and intensity on a global scale, Ask WiRE, a company that combines real estate expertise with the use of technology, has begun mapping the properties located near the banks of the Pedieos River.
In particular, 900 buildings in the Strovolos neighborhood of Chryseleousa that could be impacted by a river overflow were found, with 15 of them being especially close to the river's banks. There is a chance that 5% of these buildings, which are situated in a location that floods every 20 years, will experience flooding in the near future. The company identified 120 properties further away from the river's banks, in a location that floods every 100 years and has a 1% chance of flooding in the future. Finally, 770 properties were identified in the wider area of the Pedieos, which floods every 500 years with a 0.2% chance of flooding in future years.
"As weather events intensify in the coming years, their impact on the property sector will have to be taken seriously by all stakeholders, whether it is individuals buying a home, government agencies embarking on new public-interest projects, or even private organizations such as land development companies, insurance companies, and banks." Environmental risks are now more likely and thus more important than ever before.
