Climate risk scores, according to some experts, might transform Canadian real estate markets.




Climate Change
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Should the fact that the house you’re about to buy will be underwater in 30 years be mentioned during the sale?

“Yes,” says Chris Chopik. For years, the Toronto real estate agent has advocated for a climate risk assessment to be included in real estate listings in Canada, in the same way, that data on the ease of walking from any property is widely available. He believes that this kind of dialogue should become routine and be factored into the value of a home.

“Certainly, I would suggest that consumers should think about where they’re buying and what they’re buying in the context of climate risk,” he told.

“So, if I’m going to buy oceanfront, I’d rather buy high. Let me have a coastal cliff instead of a seaside beach.”

This type of information has become more widely available in the United States in recent years, and it is likely to become available for Canadian properties in the near future. At a time when the UN warns that climate change will lead to more catastrophic weather events, questions are being raised about who will be able to relocate to areas of relative safety and who will be left behind.