Even on a “best-case” pathway, we may see a 17% increase in losses by 2030 due to the increased severity of flooding, says Benz to The Edge Singapore.
Climate change poses serious risks for real estate in Singapore, potentially causing a 46% rise in physical damage losses by 2030 due to flooding.
The material risks for real estate are rainfall-induced flooding and extreme heat events, says Entela Benz, founder and CEO of Asia-based climate-tech company Intensel. Benz’s firm conducted an analysis of 25 assets spread across Singapore, and warns that a “worst-case scenario” of a 3.3°C to 5.7°C rise in temperatures by 2100 will bring a 58% rise in physical damage losses due to flooding by mid-century.
