Some houses in China reached 70 years legal ownership time, now what?

[Mista]

China is not Singapore

Lol then good luck believing that 70 years leasehold is the same as freehold.

 

[beijingwalker]

Lol then good luck believing that 70 years leasehold is the same as freehold.

This is what this thread is all about, it's already happened to many houses in China.

 

[Mista]

This is what this thread is all about, it's already happened to many houses in China.

So the taxpayers fund the redevelopment of the property? Prime area property get higher compensation?

 

[beijingwalker]

So the taxpayers fund the redevelopment of the property? Prime area property get higher compensation?

根据物权法相关规定，住宅建设用地使用权期间届满的，自动续期。非住宅届满后的续期，按照法律规定办理。该土地上的房屋及其他不动产的归属，有约定的，按照约定；无约定的，依照法律、行政法规的规定办理。

 

[Mista]

根据物权法相关规定，住宅建设用地使用权期间届满的，自动续期。非住宅届满后的续期，按照法律规定办理。该土地上的房屋及其他不动产的归属，有约定的，按照约定；无约定的，依照法律、行政法规的规定办理。

Ultimately the property has to be redeveloped right? Especially after 70 years.

 

[beijingwalker]

Ultimately the property has to be redeveloped right? Especially after 70 years.

That's the government care, people still buy and sell their houses.

 

[Mista]

That's the government care, people still buy and sell their houses.

Government = taxpayers

 

[Cheehg]

70year is just a number. The urban land in China is state owned. It only can be leased, so it must have a number. If the building is still safe to live, the lease will be continued. I know this apartment complex in Shanghai. I have a relative used to live there back in 1990's. The apartments are small and very basic (1-2 rooms with shared bathroom and kitchen) because at that time, it satisfied the needs. All the buildings are about 4-5 floors. In 1950's it was in suburban far away from city centre. It was for workers. Today it is already in the urban area so the land values more. Shanghai city may build high rises to house more people and also offer better and bigger apartment for the existing residents.