Posted by
snoopy88
17 yrs ago
Eh, I was under the impression that it is Yr 1997 + 50 years before the leasehold runs out.
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There is no rule or regulation on how old a building is in terms of "being allowed " by the Government. The only issue is that the older the building, the higher the chance that substantial maintenance or repair costs will be incurred and or ordered by a government authority and ultimately paid by the owner regarding the premises itself or the common parts of the building to which the owners need to contribute. Also, for an older building, the bank will be more reluctant to lend and will shorten the loan in term and increase the cost of financing.
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Fax : 2868-3568
email : weirlaw@hongkonglaw.com
www.HongKOngLaw.com/weirlaw
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