Chapter 8: Climate change and risk to real estate
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Climate change will have a significant effect on the built environment - physically, financially and socially. The impacts of climate change will vary across locations but will include changes to the frequency and intensity of extreme weather events (rainfall, drought and bushfires), and will result in physical impacts such as sea level rise and coastal erosion. This will place a substantial burden on economies, having a detrimental impact on real estate (property) across short and long timeframes. Despite well documented scientific knowledge about climate change impacts, there has been limited research in the real estate sector - notwithstanding its major role in the provision of shelter, and the economies of many countries. In this chapter we explore how climate change will affect real estate, and the implications of this. We identify five key challenges that climate change poses for the sector, and from these we identify a critical research agenda.

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