Freehold vs Leasehold Property

When you buy a house, you automatically assume that you get complete ownership, permanently. But that's not entirely true.

- Sanchi Varma

In reality, it depends on whether a property is labelled as freehold or leasehold. The difference between freehold and leasehold property continues to confuse buyers, especially in areas where land supply is controlled by development authorities. These are legal permits that come with different clauses and authority permissions.

Knowing the difference, though, is critical as the nature of the property can affect resale value, loan eligibility, and long-term planning. Let's clear the confusion by listing what they exactly mean and entail.

FREEHOLD PROPERTY

Under freehold, the buyer has complete and permanent rights over the land without any renewal requirements.