Glossary
Teiki-shakuchiken (fixed-term leasehold)
A leasehold land right with a hard end date — typically 50+ years — after which the land returns to the owner.
Teiki-shakuchiken is the fixed-term version of leasehold land: the lease runs for a set period (commonly 50 years or more for residential), with no statutory right of renewal, and at the end you typically must demolish the building and hand the bare land back to the owner. Unlike older open-ended leasehold, this one has a built-in expiry that shrinks every year you hold it, which is exactly why these units sell cheap. That's fine if you understand it — the value is in occupancy, not in a sellable asset at the end — but it's a trap if you buy it thinking it behaves like freehold (shoyuken). Banks lend cautiously against it, and resale gets harder as the clock runs down. Read the remaining term before you fall for the yield.