Is the Leasehold vs Freehold Criteria Relevant?
Thirdly, there are also many people who believe that the main difference between condominium and apartment is that (1) A condominium unit may solely be owned freehold while an apartment unit may only be leased, and/or (2) Condominium projects are developed by developers that own the project land freehold while apartment buildings are developed by those that lease the project land. Now as a matter of fact the two above information are also incorrect. As to the first affirmation, it is actually the contrary; an apartment may only be leased while a condominium may be owned freehold or leased. As to the second affirmation, a developer may build an apartment building either on land the developer owns freehold or leasehold. It is the same with condominium projects that may in many countries be built on freehold or leasehold land (not in Thailand however where the condominium developer must own the land and the building freehold to apply for the condominium license). But in many countries, fo
