During my 20-plus years (so far) as a full-time Realtor and property investor, I personally lived at UBC for 10 of them, during which time our son was born. We now live in a detached home on the Musqueam lands next door, though plan to find a view condo at UBC to retire to eventually. Just 15 minutes from the centre of Vancouver, you may be surprised at what a tremendously wonderful lifestyle can be had 'out here'... many people are surprised to learn that there are MULTIPLE fully developed neighborhoods here.

UBC is ringed by ocean, beaches, and forest, with all the urban necessities in spades (grocers, medical, services, shops, cafes, transportation, child-care, etc.), truly incredible world-class amenities (aquatic centres, golf-courses, museums, sports fields, ice rink, theatres, community centres, and much more), cutting edge urban planning, and a wonderfully diverse, progressive sense of community and culture. Did I mention one of the greatest and most beautiful University campuses in the world? The future looks bright as well, with more infrastructure on the way, including a likely Skytrain terminus within 10 years.

Yes, almost all homes here are 'Crown Leasehold', BUT...

Crown Leasehold ownership: roughly 95% of all strata properties at UBC are under this title scheme. In the 1990’s, UBC sold 100-year prepaid leases on large parcels of its land to developers, who then built multiple strata developments, creating 100-year prepaid leases (one lump sum, no ongoing lease payments) for each individual townhome or condo sold to the first end-user. All purchasers going forward are therefore purchasing the remainder of this 100yr term from the previous end-user. Expiries of these prepaid leases fall between approx. 2090 and 2110 (most post-2100).

Financing: getting a mortgage for Crown Leasehold properties is, in practical terms, JUST like getting one for a freehold property in Vancouver. Unlike some other types of leasehold in the lower mainland, banks are completely comfortable with the security of Crown Leasehold properties and offer the same products, rates, and amortization periods as they do for local freehold properties.

Values: property values are largely similar to Vancouver and have generally moved in lockstep over the years, which historical data clearly demonstrates (click HERE for supply/demand history, and HERE for price history). Until these leases are within about 30 years of expiry (at least 50 years from now), it can reasonably be expected that relative value to freehold properties in neighbouring freehold areas such as Point Grey and Kitsilano will remain roughly the same. Comparable properties on the westside of Vancouver are typically about 10%-15% more in price, making UBC very good value. And for investors, there is a further compound benefit in that rents are typically higher at UBC, yielding superior returns and cap rates.

NOTE: product at UBC is on average much newer than product in Kitsilano or the westside; therefore when comparing ALL ages of product in each market, the overall median price is higher. However, if comparing product of a similar age, UBC is generally about 10-15% less in price.

Practically speaking, no, but have a read!

Taxation: in Vancouver, the land tax and taxes for services (streets, garbage, water/sewer, schools, etc.) are all part of the same tax roll paid on July 1st annually. At UBC the tax roll total (paid on July 1, as in Vancouver) is ' split'; one portion is paid to the Province of BC (Rural Land Tax), and the other portion to UBC for municipal services (the 'UBC Services Levy'). More information HERE.