However, proximity to cannabis dispensaries has proven to be a riddle, with conflicting evidence suggesting positive, negative or no impact at all on housing values.
One study in 2017 found a positive impact on dwelling values near cannabis stores in Denver, with residences selling for eight per cent more than comparable properties located farther away.
But a recent study published in Real Estate Economics looked at the association between home values and proximity to cannabis dispensaries in Vancouver.
Previously, though, some municipalities, such as Vancouver, were laxer than others at enforcing the law.
The Vancouver study was based on residential sales from 2005 to 2015, when the recreational use of cannabis was not officially sanctioned.
By comparison, recreational use of cannabis in Colorado had been permitted since December 2012, and retail sales were sanctioned in January 2014.
During the study period, 62,498 sales were recorded for 27,091 properties, of which 20,147 dwellings were transacted twice and 5,753 houses sold three times.
The study found that the negative impact of proximity to a cannabis dispensary was confined only to properties within 100 metres of a dispensary.
The Vancouver study was performed during a period when recreational cannabis use was not legal in either Vancouver or Canada.
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