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Length of lease for apartment?

I would like to buy an apartment in the Canary Wharf area. What length of lease is recommended and sufficient to maintain the value of my purchase?

Asked on Jan 14 2013, General in London | Report content

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  • We generally recommend that the lease should be 100 years or more in length. That way, you can own the apartment for at least 10 years and when you sell it, there will still be enough lease left to interest most purchasers without loss in the property value.

    Answered on Jan 14 2013, Report content
  • Hi Moon, Not only could this be a good time to buy a house, but it may be the best time in years. Canary Warf, in particular, has seen something of resurgence in the past few years, with many new developments of flats and apartment. You should conduct a property search through good real estate agents to ease up your purchase. The leasehold ownership is limited to the life of the lease, for example, 80 to 100 years for an old building and up to 999 years for a new building or in most countries where apartments or condominiums are owned outright under a system of co-ownership. There can be restrictive rules that should be followed by the tenants too.

    Answered on Jan 31 2013, Report content

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