How climate change threatens some of the world's most coveted real estate

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How climate change threatens some of the world's most coveted real estate
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Until recently, the upscale homes of the Redhill Peninsula seemed like an oasis for rich Hong Kongers aspiring to a tranquil lifestyle in an otherwise notoriously cramped metropolis of 7.5 million.

Its cliffside location and unobstructed views of the South China Sea made for great Feng Shui and offered the perfect antidote to the hustle and bustle of city life for its gated community of tycoons, expats and celebrities. But that same pristine location worked against it on September 8, when a storm brought the heaviest rainfall in nearly 140 years to Hong Kong, wreaking havoc across the city.

Even so, recent weather patterns have been unsettling to many, with two consecutive typhoons sweeping across the region within a space of less than two weeks. Typhoon Saola, which barreled through Hong Kong on September 1, was the strongest to hit the city in five years. A week later, the remnants of Typhoon Haikui unleashed the rains that caused the problems at Redhill, dozens of landslides and left large swathes of the city underwater.

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