Singapore does this too (very little land is freehold). It looks great in China and Singapore because, well, the leases haven’t run out yet. They’ve just star

Singapore does this too (very little land is freehold). It looks great in China and Singapore because, well, the leases haven’t run out yet. They’ve just started to in Singapore and the end result is “you have until the end of the month to leave and you receive $0 compensation”. As a result they have to spend a ton of money on social housing and create massive disruption in the lives of seniors. There is no free lunch here.