If you’re in the market for some property, here’s some sound investment advice from people who know what they are talking about…
‘Don’t buy oceanfront property’
In a recent report by the Intergovernmental Panel on Climate Change, leading climate scientists from the UN have warned that one billion people will be affected as soon as 2050 because of rising sea levels, water shortages and food insecurity.
And the Maltese population are definitely part of this.
The Maltese archipelago hosts relatively low islands which means an increase in sea levels could drastically alter the shape of the Maltese coastline and render some coastal properties inhabitable.
“What happens in the Arctic doesn’t stay in the Arctic. Don’t buy oceanfront property.”
The situation becomes more worrying when you realise that the IPCC scientists have also dramatically raised their projections for future sea-level rise due to Antarctic ice sheets becoming unstable and vulnerable to breaking up.
Sea levels are now rising by 3.6mm a year, more than twice the rate of the last century
If greenhouse gas emissions continue at their current rate, sea-level rise will accelerate to several centimetres a year in the 22nd century and several metres a year in the 23rd century.
And just to give you an idea of what will happen, here’s a simulation of how Malta will look like if there was an increase of 2°C (roughly six cm) in sea temperatures…
A great stretch of Ta’ Xbiex will be lost
Msida, and the Msida valley will both reflood
Sliema and St. Julians will both be radically altered
Marsascala will be transformed into a peninsula
At this rate, the value of coastal property is the least of our worries as we could see big chunks of Malta submerged as a result of rising sea temperatures, the effects of which also include depleting oxygen levels, making oceans more hostile to life and fish stocks likely to fall.