What is a leasehold?
A leasehold refers to a land deed with a lease term of 99 years.
For properties with a leasehold, as the ownership of the land belongs to the government, owners are often concerned about what to do. However, there is no need to worry. Owners can apply to the state government to extend the lease term. Once the application is approved, the owner only needs to pay a renewal fee, which is the ‘land premium.’ When should the leasehold be renewed?
Because the procedures for renewing a leasehold take time for processing and approval, lawyers generally recommend applying for renewal when the leasehold has less than 50 years left to avoid uncertainty and the possibility of having to relocate when the lease expires. How is the renewal fee calculated?
The renewal fee for a leasehold is usually calculated based on the property location, size, and market value. The calculation method is as follows:”
What are the risks of buying a leased land lease industry?
Nowadays, many new industrial development plans are 99 leases, and only a few are freeholds, so generally speaking, the purchase risk is not high. However, when resale, it is necessary to apply to the relevant authorities and obtain the approval of the state government. Generally, it takes about half a year to 1 year to complete the transaction, and the price will be slightly lower than that of the permanent land deed industry. In addition, before the expiration of the future land lease, the inheritor of the property must apply for extension to the relevant departments, including paying the cost of the
What are the risks of buying a leased land lease industry?
Nowadays, many new industrial development plans are 99 leases, and only a few are freeholds, so generally speaking, the purchase risk is not high. However, when resale, it is necessary to apply to the extension of the land lease.
relevant authorities and obtain the approval of the state government. Generally, it takes about half a year to 1 year to complete the transaction, and the price will be slightly lower than that of the permanent land deed industry. In addition, before the expiration of the future land lease, the inheritor of the property must apply for extension to the relevant departments, including paying the cost of the extension of the land lease.
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