The arts and science in determining residential property value has evolved due to the changing in external factors such as economy, environmental and social. This research aims at developing a valuation model to determine the residential property value by taking into account the economic attributes that could effect the value for residential property in flood risk areas.

The case study covers all residential housing scheme at Langat River Basin area which has been considered at the highest flood risk area in Malaysia. The development of valuation model consists of the economic attributes such as flood, structural, locational and environmental attributes involved in residential property valuation in relations with flooding.

The Delphi Method used to identify the most significant attributes or criteria to obtain from high reliable consensus from experts using a questionnaire. This sought to discover the procedure of selection of experts, criteria of selection, development of questionnaire, analysis and results. The finding reveals that the Economic Valuation Models response to floods for a residential property using the linear regression and integrated with Eviews software.