Types of property ownership in London, England

Many people will choose to immigrate to Britain, so what are the types of property ownership in London, England? This is a problem that many people care about. Let's look at the types of property ownership in London, England. Welcome to reading.

First, the freehold.

The so-called permanent property house refers to the buyer's permanent ownership of the house and the land occupied by the house. Property owners are free to use, lease, mortgage or transfer property rights according to law. After the property is transferred, the permanent property rights will be transferred to the next owner according to law.

Most villas in Britain belong to permanent property houses. Its biggest advantage is that it has a house with permanent property rights, so you don't have to worry about the service life. They belong to the lifelong property of the property owner, and the property will generally continue to appreciate and can be passed down from generation to generation.

Second, the land lease right (leasehold)

The so-called land lease right refers to the buyer's ownership of the house, but the ownership of the land occupied by the house belongs to others or the government (70 years is the best example of commercial housing in China).

The buyer leases the land use right from the land owner through the contract. The lease term, renewal right and corresponding rent will be clearly indicated in the land contract.

The disadvantage of this kind of house is that when the land lease term approaches, the house will be transferred and the house price will be significantly reduced. And before rebuilding, transferring or subletting, the consent of the land owner must be obtained.

Some land lease agreements have special additional clauses on how buyers use their purchased houses, such as prohibiting excessive noise. However, it must not be ruled out that property buyers buy houses with only land lease rights.

The reason for this is the following：

1) Land leases in Britain are generally very long, some as long as 999 years, and the lease of 125 is the most common.

2) English law allows the extension of the expired land lease contract. British courts strictly supervise the rent to be paid to ensure the rationality of the rent.

3) The additional clauses of the land lease agreement are generally reasonable, and the main purpose of drafting is to ensure the normal life order and quality of life of neighbors. Therefore, in the actual operation of housing ownership and use, in most cases, there is little difference between renewable land lease property rights and permanent property rights.

Share of permanent property rights (* * * permanent property rights)

It should also be mentioned here that in London, England, some small apartment buildings offer "permanent property rights". The so-called * * * sharing mode of permanent property rights means that all owners in the building enjoy the share of property rights of their apartment buildings on average. This model ensures that every apartment building is controlled fairly and reasonably, and that the apartment is maintained best.

Three. Finished room and anterior chamber

In every country's real estate housing market, there are finished houses and unfinished commercial houses (generally called forward houses or buildings outside the building). Large real estate developers attract investors to buy houses in advance at a lower price before the real estate starts.

In most countries, buying faster houses has an absolute price advantage, but Britain is basically an exception. Whether buying a finished house or an auction house, the type of house property right (lifelong retention or lease) is unchanged, but the specific purchase procedures may be slightly different.

This is a basic introduction to property ownership in London. As a global and diversified city, London will never have to worry about investors' love for it, and will certainly attract more China investment capital to focus on the London real estate market in the future.