Buying leasehold Apartments or Properties
Opting to buy a home on leasehold land raises many issues and means confronting complexities that don’t exist with freehold property.
Monday, March 31st 2003, 6:06PM
by The Landlord
Jeff Cate, manager of Barfoot & Thompson, Remuera, says leasehold plays an important role in real estate, because it lets people live somewhere they may not normally be able to afford.
"It means instead of paying, say, $1.5 million for a home, you can invest $800,000 and perhaps put the rest of your money into the business. There are tax reasons why it’s advantageous," he says.
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