The Real Deal New York

Miami’s sea-level conundrum

Florida coastal property worth $69 billion could be at risk by 2030

November 06, 2015 01:08PM
By Francisco Alvarado

Miami Beach adds pumps and raises streets.

Miami Beach adds pumps and raises streets

From the South Florida Market Report: It’s no secret that Miami-Dade County’s coastal cities will be ground zero for the potential negative impact of rising sea levels. A 2014 World Resources Institute study showed southeast Florida’s average annual rate of sea-level rise from 1993 to 2010 was almost twice that of the period from 1901 to 2010.

And a July report by the Risky Business Project, which aims to quantify the economic risks of climate change, estimated that by 2030 Florida coastal properties worth $69 billion could flood at high tide. Roughly half of the exposed real estate assets are in Miami-Dade County. [more]