Asked by Anonymous
I am looking at a particular condo. It has a 99-year lease and the development is almost 20 years old now for a $1.5 million condo.
My question is what will likely happen to the value of this condo (assume I buy now) in another 30 to 40 years’ time if I want to leave this property to my children? Considering that MORE THAN HALF the lease is gone, I am really curious before I commit this purchase.
Thank you.
My question is what will likely happen to the value of this condo (assume I buy now) in another 30 to 40 years’ time if I want to leave this property to my children? Considering that MORE THAN HALF the lease is gone, I am really curious before I commit this purchase.
Thank you.
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