Residents don’t own the asset but may benefit from any growth in its value when their villa is “sold”.
When you purchase a lease, your payment means that when there is capital growth on the property upon re-sale, you share in this growth. This is sometimes called a “capital share lease” arrangement.
Villa values go up and down over time in much the same way as your current residence. Under the Independent Living Village Agreement, residents receive the benefit of a proportion of capital growth, subject to conditions, upon re-leasing. This does vary between villages and organisations and you should check to see if an agreement allows you to benefit from capital growth.