The value of land differs across the world. In British Columbia it is a result of good governance, public infrastructure, and the market. On less developed continents, basic “land rights” are only now being understood as the key to human well-being, economic growth, and stability.

1. FEATURE: LAND
Nigel Atkin
The Value of Property
At Home and Abroad
T
he value of land differs
across the world.
The quality of community
services, primarily governed locally
by municipalities and regional
governments, also impact market
value. The quality of bridges,
traffic patterns, hospitals, schools,
recreational facilities, police and fire
protection, good water, and sewerage
all contribute to residential, business,
and industry value.
In British Columbia it is
a result of good governance, public
infrastructure, and the market. On less
developed continents, basic “land
rights” are only now being understood
as the key to human well‑being,
economic growth, and stability.
Democratic Institutions
Many British Columbians
take the value of their
property for granted.
Many British Columbians take the
value of their property for granted. For
some, the mantra “location, location,
location” simplistically explains why
the value of their property increases.
Infrastructure Investment
In BC, property rights are
supported by the rule of law,
democratic institutions, and a wholly
transparent system of identifying,
deeding, valuing, taxing, and
transferring property. Institutions such
as the Land Title and Survey Authority,
BC Assessment, and the BC Notaries
Public are examples of institutions that
support land value.
Future infrastructure and other public/
private development also impact
a property’s value.
©iStockphoto.com/Armbrister Detwiler
Government planning for public
infrastructure in concert with
commercial development portends
a climate of investment, mortgaging,
and communities desirous of building
forms of wealth both in real estate
and in quality of life.
Skytrain bridge over the Fraser River
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Surrey, Maple Ridge, and Pitt
Meadows are considered the hottest
cities for high-growth commercial
and real estate markets in the Fraser
Valley, according to the Langleybased research company Real Estate
Investment Network.
The current and “potential” values
in those cities can be traced through
examining the development of public
infrastructure that connects both sides
The Society of Notaries Public of British Columbia
of the great Fraser River. We have only
to ask what were the values of property
in Surrey and area “before and after”
the following were built.
•
The Patullo Bridge in 1936, 1937
•
The first Port Mann Bridge
in 1964
•
The Alex Fraser Bridge in 1986
•
The Skybridge (Translink)
extending the Expo Line in 1990
to the King George Station, the
eastern terminus in 1994
•
The Golden Ears Bridge
connecting Langley with Pitt
Meadows and Maple Ridge
in 2009
•
The new Port Mann Bridge in 2012
While those were key drivers for
property wealth, the value of Lower
Mainland properties and quality of life
will continue to improve with future
infrastructure development.
For instance, as detailed in the
Fall 2013 edition of The Scrivener,
Port Alberni Port Authority’s proposed
new terminal on Vancouver Island—
dedicated to container trans shipment
and short sea shipping—will be part
of the ongoing infrastructure solution
to the Lower Mainland’s growing
pains, again helping to increase
the region’s property value by using
the Fraser for the transportation
of goods up-river.
Volume 22 Number 4 Winter 2013

2. Securing Property Rights
Internationally
While property owners in our province
benefit from secure land rights, good
governance, sound infrastructure
investment, and the economic
development it affords, the majority
of people on other continents are less
fortunate. Karol Boudreaux, director
of investments for the Omidyar
Network, states, “Some 70 percent
of the world’s people…live without
formal, documented rights to land.”
In South America and Africa
where large tracts of land are being
acquired in so-called “land-grabs” for
resource extraction and other forms
of development, land rights are only
starting to be recognized for many
local communities and indigenous
populations.
Last year, in an effort to improve
the lives and livelihoods of small-farm
holders and their families, the United
Nations Committee on World Food
Security endorsed new Voluntary
Guidelines of Tenure of Land, Fisheries,
and Forests in the context of food
security. This furthered a growing
international campaign aimed at helping
governments safeguard respective forms
of customary, public, and freehold land
rights of people to own or to access
land, fisheries, and forests.
According to the Food and
Agriculture Organization of the
United Nations, the guidelines “were
developed through a broad global
partnership of international, regional,
and national organizations of different
types that work together to achieve
global changes in governance
of tenure. The development followed
an inclusive process involving a series
of consultations and negotiation.”
“Inadequate and insecure tenure
rights increase vulnerability, hunger,
and poverty, and can lead to conflict
and environmental degradation when
competing users fight for control of the
resources. The governance of tenure
is a crucial element in determining if
and how people, communities, and
others are able to acquire rights and
associated duties, to use and control
land, fisheries, and forests.”
Volume 22 Number 4 Winter 2013
The document also recommends
“safeguards be put in place to protect
tenure rights of local people from risks
that could arise from large-scale land
acquisitions,” while also making the
case for protection of “human rights,
livelihoods, food security, and the
environment.”
The stability of land rights
and governance in British
Columbia contributes
to individual and collective
property wealth.
The guidelines address a wide
range of other issues.
•
Recognition and protection
of legitimate tenure rights,
even under informal systems
•
Best practices for registration
and transfer of tenure rights
•
Making sure that tenure
administrative systems are
accessible and affordable
•
Managing expropriations and
restitution of land to people who
were forcibly evicted in the past
•
Rights of indigenous communities
•
Ensuring that investment
in agricultural lands occurs
responsibly and transparently
•
Mechanisms for resolving disputes
over tenure rights
•
Dealing with the expansion
of cities into rural areas
The stability of land rights and
governance in British Columbia
contributes to individual and collective
property wealth.
As land rights are established in
other countries, Canada can expect
more trade and secured international
prosperity. s
Nigel Atkin, MA, is an international
development consultant and university
instructor.
Natkin2020@gmail.com
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