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(a) a lease extended by the operation of Section 6 of the New Territories Leases (Extension) Ordinance, Cap. 150; and (b) a lease under which there is an express obligation to pay an annual rent of an amount equal to 3% of the rateable value from time to time of the land leased.
The HDB Hub at Toa Payoh, headquarters of the Housing & Development Board of Singapore. HDB flats in Jurong West. The Housing & Development Board (HDB; often referred to as the Housing Board), is a statutory board under the Ministry of National Development responsible for the public housing in Singapore.
WAULT, short for weighted average unexpired lease term, is a measurement used in commercial real estate to quickly judge the value of contracted rents in a property, or more commonly, a portfolio of properties.
In 2009, the HDB introduced the Lease Buyback Scheme, under which the HDB buys a proportion of the housing unit's lease at current resale prices. Additional schemes, such as the Silver Housing Bonus, under which the homeowner moves to a smaller flat, and the two-room Flexi scheme consisting of smaller flats with shorter leases, were introduced ...
For example, a property may have a value of £300,000 if it has a 99 year lease but only be worth 85% of that value if the lease has only 70 years remaining. If the leaseholder with 70 years unexpired is entitled to extend the lease to 99 years or more, they have the opportunity to increase the value of their interest in the property by £45,000.
The US Consulate had an option to buy the plot as a freehold in its 1950 lease, but this was eliminated in 1999 in exchange for the 999-year lease. [ 2 ] The only current freehold in all of Hong Kong belongs to St John's Cathedral , which was granted freehold in 1847 with perpetual ownership under the condition that the land be used as a church ...
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