As mentioned in last week’s blog post, Areas Where We Saved for Our House Purchase, we were looking for a condominium somewhere in between where our parents stay. The area that we looked at has only 99-year leasehold condos. Since leasehold properties have to be returned to the government after the lease expires, we wondered, out of curiosity, whether we could afford a 999-year leasehold or freehold condo which could retain value much better than a 99-year leasehold condo.

In recent years, there are very few new 999-year leasehold or freehold condos. We went to an area where there are a few older condos, aged around 10 years old, which is the age of the condo that we bought. Our condo is a 99-year leasehold starting from 2002 and completed in 2007. There, we found a condo which is a 956-year leasehold starting from 1928 (leaving it with 867 …