S
stargazer
Guest
Does anyone have any thoughts on the effect that global warming and climate change will have on international property investment?
For example the developments of the artificial islands off the coast of Dubai, such as "the world" and the one shaped like a palm tree. These expensive pieces of real estate are only metres above sea level. If ocean levels rise investors may have to retreat to their yachts. Dubai is also unbearably hot in summer, sometimes in the high 30s to low 40s. The place would be vitually uninhabitable were it not for universal air conditioning which is run on cheap electricity due to their oil resources. Howver their oil resources are dwindling, this was the catalyst for their construction boom in the first place, to replace their oil economy.
Many tourists visiting Ireland whom I spoke to this summer from Portugal, Spain and the south of France told me that the summer was unbearable this year. They were delighted to come to Ireland to escape the searing heat. Meanwhile Paddy Irishman is heading off to his villa at the height of summer to bare his shiny white legs and socks with sandals to the mad dogs and Englishmen already there.
So where does this leave investment abroad with an eye on the (hopefully) long term?
Florida is out, just above sea level. Ditto The Netherland-although they will probably be building underwater cities in a few decades.
The middle east is unstable and liable to turn into a complete desert environmentally and economically once the oil runs out.
China- again instability, major structural problems huge societal inequality, desertification etc
Countries on the southern Med- will kikely be too hot in summer, possible water shortages, health system collapse under weight of too many retirees.
Central and Eastern Europe and Baltic states- Maybe just dont buy near the Danube or any other major river, and watch out for roofs collapsing under heavy snow falls.
Africa- Dont even go there.
USA- Undecided
Russia, former CIS states- Fine until next door neighbours kidnap your cat with menaces. Also falling population and life expectancy.
That leaves us with parts of Northern Europe, Canada, Switzerland, New Zealand and Austrailia and parts of South America ( just avoid the tin pot dictators right wing guerillas, left wing guerillas, narcs, drug barons, rebellious tribes, armed ranchers, loggers, miners etc)
For example the developments of the artificial islands off the coast of Dubai, such as "the world" and the one shaped like a palm tree. These expensive pieces of real estate are only metres above sea level. If ocean levels rise investors may have to retreat to their yachts. Dubai is also unbearably hot in summer, sometimes in the high 30s to low 40s. The place would be vitually uninhabitable were it not for universal air conditioning which is run on cheap electricity due to their oil resources. Howver their oil resources are dwindling, this was the catalyst for their construction boom in the first place, to replace their oil economy.
Many tourists visiting Ireland whom I spoke to this summer from Portugal, Spain and the south of France told me that the summer was unbearable this year. They were delighted to come to Ireland to escape the searing heat. Meanwhile Paddy Irishman is heading off to his villa at the height of summer to bare his shiny white legs and socks with sandals to the mad dogs and Englishmen already there.
So where does this leave investment abroad with an eye on the (hopefully) long term?
Florida is out, just above sea level. Ditto The Netherland-although they will probably be building underwater cities in a few decades.
The middle east is unstable and liable to turn into a complete desert environmentally and economically once the oil runs out.
China- again instability, major structural problems huge societal inequality, desertification etc
Countries on the southern Med- will kikely be too hot in summer, possible water shortages, health system collapse under weight of too many retirees.
Central and Eastern Europe and Baltic states- Maybe just dont buy near the Danube or any other major river, and watch out for roofs collapsing under heavy snow falls.
Africa- Dont even go there.
USA- Undecided
Russia, former CIS states- Fine until next door neighbours kidnap your cat with menaces. Also falling population and life expectancy.
That leaves us with parts of Northern Europe, Canada, Switzerland, New Zealand and Austrailia and parts of South America ( just avoid the tin pot dictators right wing guerillas, left wing guerillas, narcs, drug barons, rebellious tribes, armed ranchers, loggers, miners etc)