How Cannabis affect Real Estate in Vancouver?

a. Dispensaries shops in your neighbourhood affect properties values?

b. Commercial space will drive up costs due to cannabis able to pay above industry average?

c. Landlords fears if tenants will grow mariwana in their home. We all know that in the past there were stigmatized properties because owners or tenants use the home as grown up marijuana. This impacts the home value due to effects of the property from the smell that remains in the walls, power usage and other reasons. 

d. Insurance companies insure homes or secondary suites if know that renter is using cannabis even for medical reasons?

e. Would you buy a property knowing full well either disclosed or home inspector that cannabis has been used in the premisses? 

  • 42% of all respondents say having a cannabis dispensary in the neighbourhood would reduce nearby home values; 34% disagree, while 23% are neutral.
  • Only 11% of all respondents feel a new liquor store would reduce the value of nearby homes; 63% disagree, with 26% neutral.
  • 58% of respondents who currently live close to a dispensary are comfortable with its presence. Of those respondents, 71% of respondents who currently live close to a liquor store are comfortable having that store in their proximity.
  • 54% of respondents who do not currently live close to a dispensary would be uncomfortable with one opening nearby, while 26% would feel comfortable, and 20% are neutral. Out of respondents who do not currently live near a liquor store, only 29% are uncomfortable with having a liquor store in the neighbourhood, while 34% would be comfortable, and 37% are neutral.
  • Millennials are least likely to be pessimistic about the presence of a dispensary, with only 31% indicating they’d feel a dispensary would reduce the value of homes nearby, compared to 50% of Xers and 47% of Boomers.
  • 64% f of the people surveyed agreed that strata should have the right to band cannabis use in "their" building

Conclusion: There are still more questions than answers  the general feeling right now is like everything else to do with Vancouver property values is NIMBY 

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