The word leasehold is correct and can be used in written English.
It refers to a form of ownership where the holder of the lease has use of the property for a set amount of time, typically in exchange for some form of consideration. For example, a homeowner might sign a leasehold agreement with a tenant, granting the tenant the right to live in the home in exchange for rent.
Even when the current system of leasehold tribunals is seen to work, wronged leaseholders can still count the cost.
The councils revealed they have sold 127,763 leasehold properties – typically flats and maisonettes – with 47,994 leaseholders now living at another address, a strong indication that the home is being sublet.
Half the people here are leasehold owners, who have bought their flats – including me.
But a fascinating new NBER working paper uses a clever approach to take a crack at it.The authors exploit an oddity in British real estate: Britons buying a home may either purchase what is known as a freehold (which means they own the land outright) or a leasehold (which means they "own" it for the duration of the leasehold).
According to a report by the Royal Institution of Chartered Surveyors, the average tenant uses 12% less space per worker than the average owner-occupier.A study by City University Business School found that companies with mainly leasehold property financially outperformed those that owned their premises.
These entitle the holder to do whatever she wants with a property, including selling the leasehold to someone else.
By comparing the prices of two identical apartments, one with a freehold and one with a 100-year leasehold, it should be possible to estimate how much value home-buyers place on events 100 years in the future.As expected, shorter leaseholds trade at larger discounts to freeholds; leaseholds of 100 years face a 10% discount, whilst those of over 700 years face none.
Vietnam has successfully brought in the concept of private leasehold.
Those who bought the leasehold on their council flat under the "right to buy" scheme implemented by Margaret Thatcher in the 1980s are even worse off.
