what does tenure mean in real estate

[KaneKungFu123]

example here.

Address: 261 – 263 River Valley Road
Type of Development: High Rise Condominium
Tenure: 929 years
District: 09
No. of Units: 345

[squiffy]

In general, tenure seems to mean holding period. How long the land is held.

But the use here, appears to mean leasehold period. Perhaps it is a British expression.

In Hawaii, which is very crowded and densely populated like Hong Kong, land is so valuable that people will generally NOT sell you land fee simple, where you own the land forever and can pass it to your children.

In Hawaii, typically, you can only get a 99 year lease. Which means you never own the land. You can buy and sell the condo unit, but at the end of 99 years, everything on the land, all the buildings and improvements etc. go to the Landlord.

So perhaps this means a 939 year lease. Which seems incredibly weird. So I am not sure I am correct about this at all.

If you were going to give someone a 939 year lease, why not just sell the land fee simple???? It could be that land in Hong Kong is so valuable that no one wants to sell it. You just sell off a leasehold interest for a certain period.

http://www.findarticles.com/p/articl...10/ai_n8908179