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Report Highlights the Effects of Climate Change on the BC Real Estate Industry

The David Suzuki Foundation and the Real Estate Institute of British Columbia have released a new report, Hot Properties: How Global Warming Could Transform BC’s Real Estate Sector.

“The energy we use to build our cities, the energy we use to heat and power our cities and the energy we use to transport ourselves and our goods from A to B accounts for roughly one-third of B.C.’s total omissions“ ~Nicholas Heap, author of the report

Citing house floods in Tsawwassen, wildfires in residential Kelowna and landslides on the North Shore and in Mission, Heap said his research leads him to believe many buildings and outlying infrastructure throughout the province are at risk.

“It is now becoming clear to the general public, government, building sector professionals, and insurers that the effects of climate change will require significant changes to current practice.”

~Nicholas Heap

According to Real Estate Institute president Scott Ullrich, the findings weren’t that surprising.

“We’ve been concerned about the issue of sustainability for some time and climate change, as we are all starting to realize, will force real estate professionals to find innovative ways to reduce green house emissions,”

~Scott Ullrich

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