While many Hong Kong families decide to skip buying home insurance, people around the world may soon not have a choice. Climate change is causing insurance premiums to rise and, in the more vulnerable places, private insurers have stopped underwriting policies.
Having paid a high price for their property, some homeowners have every incentive to build unauthorised additions for their houses knowing enforcement can be lax.
Post investigation into luxury estates confirms scale of unauthorised additions, such as swimming pools and basements, and signals it’s time for effective regulatory reforms