Buying Leasehold apartment

[Guest2]

I have a simple question

What happens (or usually happens) when a leasehold properly comes to the end of it's lease?

E.g. I buy an apartment for 100k that has a 50 year lease. I live in it for 50 years, is that properly (not the overall building) still mine? Can I sell it on / to the building freehold owner or are the lease terms re-negotiated?

 

[Guest2]

this is why such leaseholds are super cheap and cash only

Generally all apartments in City centers I have seen are leasehold only and some are certainly not cheap. Some are 100 year, some 150, some 1000

 

[Guest2]

ok, sorry I was using 50 years as an example. Some are 100 year leases from 2005-2010

So the chart generally means all leases can be extended - all be it for cost.

Is there not another type of freehold/leasehold where you basically pay for the freehold of your share of the building with the other people who have apartments in the same building?