I haven’t met anyone who has brought a leasehold property, but to me owning the land is a must.
Our first property was a leasehold, around 25 years ago. We were quite naive. Although the rental returns were good we missed out on the capital gains growth at the beginning of the century.
I agree that owning the land is a must.
Hi Spider, welcome to our community, thanks for your insightful post.
I had a luck escape selling some industrial leasehold land. There was only one buyer. I also know developer who specialise in buying leasehold and converting it to freehold (A term for describing the land title status. Leasehold or Freehold)
My brother was very close to buying a lease hold property in south of Auckland. But a valuer talked him out of it because he said there will be no capital growth on the house and it would be very hard to sell. He has said many times he was lucky to be talked out of it.