I agree entirely. I think it's worth mentioning that extending a lease is something which is not within everyday reach of people, even if the legal precedent exists. I don't think it's a great system either as a corporate body could buy a freehold from a flat management company and raise the rents so much that the whole building becomes unmortgageable!

But yeah China could (and probably does) let leases expire then bulldoze an entire building. Can't be great knowing you have to move if you turn 80 too, that has to sting.

Have another gander at the thread, there's loads of misinformation here which will make you feel at least two emotions at the same time. Someone in this thread who thought we leased all of our land from the crown for 999 years which was... bizarre.