Richmond Real Estate Market

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Richmond is an island city. It is made up of a number islands in the Fraser River delta. It is just one meter above sea level. It was prone to flooding, especially during high tide. Therefore, major islands are now surrounded by a system of dykes, which serve to protect the town. Also, since it occupies land in a river delta, the city has plenty of rich soil for agriculture. Richmond is a culturally unique community. As of 2021, the city has an estimated population of 209,937 people with 60 percent being immigrants, the highest proportion of immigrants in Canada. Majority of immigrants are Chinese. Richmond has been experiencing growth and change, transforming from a rural, local community to an international city with a balance of urban, suburban family and rural areas. The city is 20 minutes from downtown Vancouver and 25 minutes from US border. It’s the location of Vancouver’s international airport.  The SkyTrain, Canada Line, speeds up transit system and connects Richmond to other
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Townhouses and Condominiums in the Area of Simon Fraser University, Burnaby, BC

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Map of SFU

Simon Fraser University (SFU) is a public research university in British Columbia, Canada. The main campus is located on Burnaby Mountain, which is a 12 minute drive from downtown Vancouver. It is consistently ranked as Canada’s top comprehensive university. In MacLean’s 2022 rankings, the university placed first in their comprehensive university category. There are more than 30,000 undergraduate and postgraduate students with more than 1,000 academic staff.

UniverCity is an urban community on the top of Burnaby Mountain, next to Simon Fraser University. The development of the community began in early 2000. Condominiums and townhouses have been built since then. Now the main commercial area is on University High Street with restaurants, stores and Nester’s Market. University Highlands Elementary School along with child-care facilities accommodate families in the area. The residents in UniverCity have access to the SFU facilities including the art gallery, aquatic center, library, health and athletic facilities, and bookstore. Also, people enjoy beautiful wilderness areas. Some properties have spectacular city, mountain or water views. However, the land is fully under SFU ownership with 99-year lease agreement which mean owners in the properties have lease-hold ownership.

Townhouse Market
Townhouses


Condominium Market
Condominiums

The charts above represent the market trend in MLS HPI price since 2005. Townhouse prices are higher than Burnaby and lower than Burnaby North. Condominium prices are lower than both Burnaby and Burnaby North

The attached short video will give you a good visual image of the UniverCity community. 


If you are ready to buy a property, would you consider buying one in UniverCity either for your own principal property or investment? If  you would like to have more information regarding Burnaby market, please click here or contact me at awang@macrealty.com

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