Opposition is growing over Quebec’s new flood maps, with the province’s professional association of real estate brokers warning they could disrupt the housing market and directly impact homeowners.
Rene Leblanc, who has invested in his home on des Macons Street in Pierrefonds for 40 years, said the new maps put his future in jeopardy.
“I always thought that one day the value of that home would supply me with the necessary funds to go into that last chapter of my life. And now I find that may not happen,” Leblanc said in a recent interview.
Macons Street flooded only once, in 2017, but it’s considered high risk according to flood maps from Montreal’s metropolitan community.
“The new proposed flood map caught us by surprise. Actually, surprise doesn’t do it justice. We were shocked by it,” Leblanc added.
Christian Andrew Marco, another Pierrefonds resident, shared Leblanc’s concerns.
“Everything is a concern now because now we’re in a red zone,” Marco said.
Nathalie Bégin, the president of Quebec’s professional association of real estate brokers said homeowners living in flood zone are facing many questions about their property values.
“For those who are really on the map in the risky zone, there is going to be a big impact,” she said.
Bégin noted revised flood maps will lead to a significant decline in the value of even more properties.
The proposed maps put around 77,000 properties in flood zones compared to around 22,000 before meaning that many more homeowners will have difficulties selling.
“Even if the property doesn’t have a recurrence flood risk, just being marked on the map will cause problems,” Bégin said.
The association participated in a public consultation on the flood zones and recommended that the government introduce financial assistance programs and communicate the changes with people who are affected.
“It will be a good tool to go to the insurance company and the lenders to make a decision, a clear decision, if they’re going to give a mortgage or not or give insurance or not,” she said.
In a statement, Quebec’s Environment Ministry said public consultations are over and official flood maps will be published once approved by the government, though no release date has been set.