The increasing extreme weather causes costs to skyrocket and has caused several insurance companies to stop insuring homes citing climate change. Demand for climate-safe housing is now growing.
– We were away in Italy when the storm came last time. Fortunately, via an application, we were able to lower the hurricane protection for the home, says realtor Lisa Hall, who lives in hurricane-proof Babcock Ranch.
But living in the area is expensive, villas cost SEK 12-13 million. A good investment, according to Swedish Peter Widmark, who also chose to settle in Babcock ranch.
– They are up 30-40 percent in a year, so it is a great investment, he says.
– People don’t want to live on the coast and have to rebuild damaged houses and then take out new insurance — if you can even get one, says broker Lisa Hall.
SVT’s climate correspondent Erika Bjerström has visited Babcock ranch, see the report in the video above.