Abstract
Property owners living near the coast benefit from geographically specific amenities. However, residents of coastal zones are often faced with the risk of natural hazards, such as hurricanes and the increased risks stemming from the threats of climate change including rising seas. To effectively manage coastal zones, and better equip them for climate resilience and preparedness, decision-makers depend on information with which they balance risk, benefit, and use.
The work described in this book chapter focuses on one highly developed coastal areas in Florida, more specifically regional government. Informed by regional evacuation studies and broader compliance with Florida Law, hurricane evacuation zones have changed several times since historically active 2004–2005 hurricane seasons. These zones should communicate risks to the property market, and by assuming efficient markets, they should be incorporated into home prices. We evaluate the trends of policies in place in India by comparing a difference in approaches to the risks and policies in place to prevent large-scale disasters, costs, and mitigation of damage.
This chapter uses the comparative analysis of varying approaches to issues geographical position and the balance between ecosystem service amenity (e.g., distance-to-shore and view), sub-national policies, and natural hazard risk. We provide an overview of current policies in place, a review of the amenity-based analysis of the risk averseness, explicit incentives, and governance structures to make the housing market account for low-probability catastrophic risk scenarios. We look how effective markets compensate for incorporated natural hazard risks.
The book chapter draws on comparison to the emergent practices in regional settings in Florida and compare the emergent practices in Cuba and/or Carribean region and provides for potential applicability of models. These are all places with similar risk exposure and morphology but vary on national and sub-national institutions.
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Alibašić, H., Morgan, J.D. (2020). Coastal Climate Readiness and Preparedness: Comparative Review of the State of Florida and Cuba. In: Ghosh, M. (eds) Perception, Design and Ecology of the Built Environment. Springer Geography. Springer, Cham. https://doi.org/10.1007/978-3-030-25879-5_7
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