G'Day all,
Years ago when I studied Real Estate Valuation, I remember being enlightened by our valuer/lecturer that there was no freehold ownership of land in Canberra and that all land was on long term leasehold as Canberra itself was developed on land that was originally leased from the state of NSW.
I also remember at the time that some of the original 50 year land leases were coming up to the end of the term.
Question is: Is this still the case or have they now somehow changed to freehold title.
Reason I am asking: I have been invited to participate in a joint venture there and I don't want to look like the idiot that I am.
So people........PLEASE HELP ME!
regards
Years ago when I studied Real Estate Valuation, I remember being enlightened by our valuer/lecturer that there was no freehold ownership of land in Canberra and that all land was on long term leasehold as Canberra itself was developed on land that was originally leased from the state of NSW.
I also remember at the time that some of the original 50 year land leases were coming up to the end of the term.
Question is: Is this still the case or have they now somehow changed to freehold title.
Reason I am asking: I have been invited to participate in a joint venture there and I don't want to look like the idiot that I am.
So people........PLEASE HELP ME!
regards