It goes without saying that the market for luxury homes means houses at a high price. When it comes to the price of a house, however, the actual structure itself is not the only determinant. Far more significant in the price is the land that the house has been built upon. In cities such as Vancouver, this land is hard to come by and prices are thus at a premium. There is no better example of this than the exclusive neighbourhood of UEL, also known as the UBC Endowment Lands.
Although it is close to the city, this neighbourhood is not actually a part of Vancouver. In fact, the residents of this high end neighbourhood have a long tradition of opposing the incorporation of the University Endowment Lands into the city. The people who live in the sprawling, estate style homes which comprise the community pay taxes directly to the province of British Columbia. The neighbourhood, with its infrequent mansions sporadically located amongst the rain forest topography, is thus a world unto itself. The structure is entirely different from the other high end Vancouver communities.
The privacy inherent in the exclusivity of the University Endowment Lands is of course a big part of the appeal of the luxury real estate in the area. The views commanded by the million dollar homes in the community are another major attraction for those who make their homes here. The UEL is bordered on three sides by the Pacific Ocean, with Pacific Spirit Park on the fourth. The environment immediately surrounding the UEL is unique, with residents and others more than willing to fight to keep it that way.
There are several real estate opportunities within the University Endowment Lands. Student housing, luxury condominiums, deluxe estates and townhomes can all be found within the area.
As one might expect, the main cultural attraction for residents of the UEL is the nearby University of British Columbia campus. Those living in the area enjoy the cutting edge cultural opportunities this proximity affords, as do those living in Kitsilano and Point Grey.
The luxury homes located on the University Endowment lands and on nearby Southwest Marine Drive are a mix of traditional architecture and modern homes. The incredible ocean views, estate style houses, and the cutting edge culture combine to make real estate in the area some of the most coveted in the country.