US realtors may soon be required by law to disclose a property’s flood risk and history to prospective buyers, a move which could put house prices on the slide – most notably in coastal regions vulnerable to sea level rise (SLR).
So far, property valuations in these regions have been buoyant despite the increasing intensity and frequency of extreme weather events. In Miami, for example, “king tides”, caused by specific alignments of the sun and moon, have made flooding a monthly occurrence in some areas even in periods of limited storm activity.
The promise of lucrative returns has made coastal real estate an attractive investment opportunity. According to the National Association of Realtors, property prices in coastal cities have risen faster than those in landlocked areas since 2010, with waterfront homes generally more expensive than those just one block inland.
But analysis provided by property valuation platform GeoPhy and cli…