According to a report from Reuters, "Nearly one in ten properties owned by leading real estate investment trusts (REITs) in the Asia-Pacific region may be at "high risk" of damage from climate change, particularly in coastal regions.” 

"What we are seeing is that the physical risks to built assets increase over time under climate change, and are particularly more pronounced in scenarios where global warming is allowed to accelerate," said lead author Philip Tapsall in a report by climate risk consultancy XDI.

Individual companies and communities that stood to be affected need to do more to adapt to the risks, he added.

"We still have time to act, so what we are really trying to do is signal the existence of this risk."

In its report, XDI analysed more than 2,000 property assets valued totally at $142 billion held by the 20 largest REITs in Japan, Australia, Singapore and Hong Kong.It used global climate models and regional weather data to assess the damage expected as a result of extreme weather. Properties suffering annual damage of more than 1% of their total replacement value were deemed "high risk", with nearly one in ten expected to meet such criteria by 2050. XDI identified coastal inundation as the biggest threat in the Asia-Pacific, according to the Reuters article.