BC Business
Oceanfront homes are some of the most desirable—and pricey—in the world. But a study published in Population Research and Policy Review points out that "what makes them so attractive in the first place, their proximity to water, is directly related to their vulnerability to flooding-related natural disasters." And this is not lost on homebuyers. Estimating...
Oceanfront homes are some of the most desirable—and pricey—in the world. But a study published in Population Research and Policy Review points out that “what makes them so attractive in the first place, their proximity to water, is directly related to their vulnerability to flooding-related natural disasters.”
This isn‘t lost on homebuyers. Estimating Recent Local Impacts of Sea-Level Rise on Current Real-Estate Losses: A Housing Market Case Study in Miami-Dade, Florida, has discovered that coastal properties at higher elevations seem to be appreciating at a faster rate than similar ones closer to sea level.
In B.C., the City of Surrey has actually considered buying up homes in the low-lying seaside neighbourhood of Crescent Beach.
Use this interactive map to see how vulnerable your home is to a rise in sea level.