With the issue of leasehold scandal being very much still on headlines, you have to wonder if you have leasehold ownership in your country. As it is, leaseholds are not very common throughout the world. There are countries or even parts of countries that have had this as a common practice in many years. On the other hand, there are countries that are just starting to see the appeal of leaseholds.
Here is an assessment of how leaseholds are regarded in different parts of the world:
Most countries Asia are developing nations and have seen a growth in economies in the past years. A great part of the countries’ development can be attributed to the growth of tourism and industrialization. With these two aspects, more and more real estate investors are looking into the appeal of leaseholds.
Most tourist destinations in Asia also come with a limited land area for property ownership. For business purposes, investors prefer to lease properties for long-term time frames and gain revenue by renting them out as urban residences and short-term leases.
Considering that this is where the leasehold scandal first came to light, most countries in Europe have already been more careful in adapting leaseholds and have taken into account other alternatives when it comes to real estate.
In countries like the United Kingdom, other than the reforms being made to address the issues of the current leasehold owners, there have been active movements to do away with this ownership system.
There are only a few places in this part of the world that really subscribe to the idea of leasehold. Although, looking at history, there was a time in the past that property ownerships were in terms of leasehold. In the present, however, what with the slump in real estate brought about by economic recessions, there are different property ownerships preferred by investors in the United States and Canada.