Florida properties: That sinking feeling when climate change means waterfront homes sell for less

Values of properties are shifting in coastal areas of Florida as buyers take into account rising sea levels and climate factors, studies find

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Home buyers and investors are taking sea-level rise and other climate-induced risks into account in the once sought-after coastal areas of Florida.
Above: A home in Florida's Vilano Beach which collapsed when Hurricane Irma struck in 2017. PHOTO: NYTIMES Far left: The view from a luxury condominium in Miami Beach. A 2016 study found that a 1.8m sea-level rise would inundate areas currently home
Above: A home in Florida's Vilano Beach which collapsed when Hurricane Irma struck in 2017. PHOTO: NYTIMES
Above: A home in Florida's Vilano Beach which collapsed when Hurricane Irma struck in 2017. PHOTO: NYTIMES Far left: The view from a luxury condominium in Miami Beach. A 2016 study found that a 1.8m sea-level rise would inundate areas currently home
The waters churning at where the Miami River meets Biscayne Bay in Miami, Florida, as Hurricane Irma struck. PHOTO: EPA-EFE
Above: A home in Florida's Vilano Beach which collapsed when Hurricane Irma struck in 2017. PHOTO: NYTIMES Far left: The view from a luxury condominium in Miami Beach. A 2016 study found that a 1.8m sea-level rise would inundate areas currently home
The view from a luxury condominium in Miami Beach. A 2016 study found that a 1.8m sea-level rise would inundate areas currently home to six million Americans, said the authors of the Colorado-Penn State national-level study. PHOTO: BLOOMBERG
Above: A home in Florida's Vilano Beach which collapsed when Hurricane Irma struck in 2017. PHOTO: NYTIMES Far left: The view from a luxury condominium in Miami Beach. A 2016 study found that a 1.8m sea-level rise would inundate areas currently home
Mr Mike Gilbert and his daughter Brooke in front of a damaged condominium building - where the Gilbert family had a unit - in the Florida Keys after Hurricane Irma struck in 2017. PHOTO: EPA-EFE
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Property values are shifting in once sought-after coastal areas of Florida, where the effects and threat of climate change are no longer theoretical - or debatable.

The trend was detected in a much-cited study published in April last year, in which data from Miami-Dade County gathered by Harvard Graduate School of Design researchers showed that homes at lower elevations were selling for less than expected, and that their values were increasing more slowly than those of homes on higher ground.

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A version of this article appeared in the print edition of The Straits Times on June 01, 2019, with the headline Florida properties: That sinking feeling when climate change means waterfront homes sell for less. Subscribe