03.01.2023
Ask Wire on Tuesday released a report documenting properties in Nicosia that are at risk due to the possible flooding of the Pedios River . The company noted that the river had overflowed its banks several times in the past, causing numerous problems.
On December 30, 2021, heavy rains hit Cyprus, especially in the Nicosia region, due to the amount of rainwater that fell at that time, the Pedieos River in Strovolos overflowed its banks. Also, on the same day, the authorities had to close Alexandroupoleos Street , located next to the municipality of Strovolos , for security reasons.
In the first few days of January 2020, the meteorological service issued two yellow warnings for extreme weather conditions, including rain and thunderstorms, when the Pedieos River overflowed its banks in some areas, causing adjacent roads to flood.
“It can be said that the closing of the bridge on Alexandroupoleos Street , close to Strovolos Town Hall , has become a tradition at the moment, as it is taken for granted whenever Mother Nature fills the waters of Pedieos ,” the company said in a statement.
“Given that extreme weather events are being recorded around the world with greater frequency and intensity, Ask WiRE , a company that combines real estate know-how with technology, has begun mapping properties located in areas close to the banks of the Pedios River ,” he added.
According to the company, a total of 900 buildings have been identified in the Chryseleus area of Strovolos that may be affected by the Pedieos flood . In addition, 15 buildings were identified that are particularly close to the banks of the river. These buildings are located at a point that floods every 20 years, the company explained, noting that there is a 5 percent chance of flooding in the next few years.
Moreover, 120 sites were found slightly further from the banks of the river, at a point that floods every 100 years and has a 1% chance of flooding in the coming years.
Finally, 770 properties were identified in the wider area of the river, which floods every 500 years and has a 0.2% chance of flooding in the next few years.
“As weather events will intensify in the coming years, all participants should take their impact on the real estate sector seriously,” said the CEO of Ask Wire Pavlos Lois .
“Whether it be individuals who will purchase real estate, or public institutions who will embark on new projects of public interest, or even private entities such as development companies, insurance companies and banks,” he added, noting that environmental risks in are now more likely and therefore more important than ever.
In addition, Luazou stated that this is why those involved in the real estate sector must have a complete understanding of the situation and the data that affects it so that they are properly prepared.
“This is a question that concerns everyone as it needs to be considered if they are going to invest, rent, develop or buy property in the area,” concluded Ask CEO wire .
