New construction in high risk coastal areas is a booming business, as the wealthy embrace stricter building codes—while the less well off head inland.
This from Spears:
"Stricter building requirements in high-risk locations are pushing up construction costs and premiums, but not stifling demand. The Florida building codes, first released in 2010 and updated last year, provide standards for hurricane resistant buildings. De Mallet Morgan says that governments and HNWs are increasingly looking to these sorts of guidelines even at the most luxurious tranches of the global property market.