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RE: Art and the Reality of Real Estate in China and Changzhou
Kind of like our real estate here in Singapore.
Public housing are "sold" with 99 year lease. Actually, you get less than 99 year because the lease starts when the land get transferred to building.
Newer land for development of private residence also goes for 99 years leasehold. So, the lease starts when a developer acquired the land for development and by the time you move into your new private home, the lease are down by close to 5 years already.
I did not know that!
I kind of suspected Hong Kong was similar and did a search. Found wiki and it seems there are similarities with leasehold lands.
https://steemit.com/photography/@ace108/flowers-for-a-good-week-ahead-20170417-original-by-ace108
@ace108
If you live to 100 then you loose your home. Just saying.
yes, we all know that but most people get a new place after some time plus you don't usually get your place until after 25 earliest. so far this has not been a problem.