anyone know if there is any insurance company providing home insurance against soil erosion?
Venice Hill Condominium soil erosion?
Venice Hill Condominium soil erosion?
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Jul 17 2013, 12:31 PM
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#1
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475 posts Joined: Jan 2003 |
anyone know if there is any insurance company providing home insurance against soil erosion?
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Oct 10 2014, 11:49 AM
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Except tower 10.....with the current conditions, I don't think any house owner want to stay there themselves in such environment, maybe only if they are single male(no spouse/family), so it is only about rental play, can forget about appreciation in the short/medium term. Unfortunately its location is not good to attract those low-income tenants. The popped nursing bubble has also diminished the hope for student tenants. Plus the security condition is still bad(whether with or without the africans actually), you will need some patience to find some very brave tenants to stay here.
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Mar 17 2015, 05:25 PM
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QUOTE(yoong81 @ Mar 17 2015, 04:25 PM) actually, all these buildings on hill slopes have a definite time limit. True, though rehabilitation is possible to counter the erosion. For example, Lafite apartment in Subang Jaya was facing slope problem similar to VH, it is now OK after the rehabilitation work. Unfortunately their developer, Sime Darby is an established company which cares about their reputation while VH's developer already bankrupt long time ago. Rehabilitation is not something a RA can afford to handle themselves...soil is always being eroded from the hills. no matter how strong the piling, the building will eventually crack/collapse one day. |
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