Would you buy a leasehold property?
For many buyers, the word leasehold is enough to immediately move on to the next listing.
But not all leaseholds are created equal.
What is the Raven Woods leasehold?
Raven Woods is a unique community in North Vancouver, located on Tsleil-Waututh Nation reserve land. Properties here are held through long-term, 99-year prepaid leasehold interests — and after years of buying, selling and investing in this neighbourhood, I think it deserves a much closer look.
Here are some of the things that make this neighbourhood particularly interesting:
Location & community.
Raven Woods is one of my favourite North Vancouver communities for families and pet owners. It feels secluded among the forest, yet you're minutes from Deep Cove, beaches, golf courses, shopping and schools — with downtown Vancouver still easily accessible.
And it really does feel like a community. The annual Halloween, Christmas and Easter celebrations here are absolutely magical.
The lease is prepaid.
There is no annual land lease payment to factor into your carrying costs. The original leases were established for 99 years, with the remaining term depending on the individual development.
Can you get a mortgage at Raven Woods?
This is probably one of the biggest misconceptions about Raven Woods.
Properties here are financed by major Canadian banks, including with minimum-down-payment/high-ratio mortgages for qualifying purchasers. There isn't a special leasehold interest-rate premium or automatically shortened amortization simply because the property is a leasehold.
In practical terms, financing can look remarkably similar to financing a freehold property.
Taxes and regulations at Raven Woods.
Because Raven Woods is situated on Tsleil-Waututh Nation reserve land, certain provincial and municipal housing regulations and taxes that apply elsewhere in Greater Vancouver do not apply here in the same way.
This can create some particularly interesting considerations for investors, including the treatment of speculation/vacancy, anti-flipping and foreign-buyer rules.
Is Raven Woods a good investment?
Raven Woods has an unusual combination of relatively attainable purchase prices and some of the strongest rents in North Vancouver.
Depending on the property and purchase price, a 5%+ cap rate can be realistically achievable — something that has become increasingly difficult to find in Greater Vancouver residential real estate.
Raven Woods vs. Greater Vancouver market performance.
But perhaps the most interesting part is how Raven Woods behaves as its own micro-market.
Look at the 10-year HPI comparison.
For years, Roche Point apartments and the broader Greater Vancouver apartment market moved along remarkably similar trajectories. More recently, however, the two have diverged.
While the Greater Vancouver apartment benchmark has experienced a meaningful correction, Roche Point has held much closer to its peak — creating a noticeable performance gap by 2026.
That reflects something I've observed firsthand over multiple market cycles: Raven Woods tends to perform particularly well in balanced and stronger markets, while demand has historically remained remarkably resilient when the broader market weakens.
There are good reasons for that: attainable pricing, strong rents, a beautiful setting, proximity to Vancouver and a genuinely desirable community.
Of course, leasehold is still leasehold. The remaining lease term matters. The specific building matters. Financing should be confirmed. The lease documents need to be understood. And every investment needs to make sense on its own numbers.
But dismissing Raven Woods simply because the title says leasehold can mean overlooking one of North Vancouver's most interesting real estate micro-markets.
I've bought, sold and invested extensively in this community and have watched its market evolve through multiple cycles. If you're considering Raven Woods — as a home or an investment — I'm always happy to explain how the lease works and what I would look for before buying.
By Art Seroff, Personal Real Estate Corporation
