點解樓宇會有個年期嘅？

In Hong Kong, no one really owns land because land in Hong Kong is leasehold in nature. All land is owned by the Government of the Special Administrative Region which, in effect is the property of the State under Article 7 of the Basic Law. The Government shall be responsible for the management, use and development of the land and the lease or grant of the right to use the land. The only exception of the land where St John’s Cathedral is situated was granted in perpetuity but subject to the condition that the land continues to be used as a church. As there is no absolute ownership of land, what an individual owns is only a bundle of rights and obligations which will subsist during the period of the Government lease.

To make it simple, the Government is just like the landlord of all the lands in Hong Kong (except St. John's Cathedral). This landlord leases out lands to developers by virtue of documents such as "Conditions of Grant", "Government Lease" or other documents of a like nature. The land will be lease for a certain period of time. That is called the "lease term" and everyone who buys a flat in a development constructed by a developer on a piece of land is actually "buying" a right to use the flat for a certain period of time.

2009-12-10 00:48:20 補充：
If the lease term is for 50 years, then when the 50 years expires, the landlord (i.e. the Government) has the right to get back possession of the land, just like an ordinary landlord does after the lease expires. Of course, the landlord can renew the "lease" for another period of time.

因為理論上, 所有土地都屬於政府的. 依家買樓, 實際只是向政府租用, 所以要俾地租及差餉. 當租用50年完結, 可以再續租多50年. 所以間樓是買的, 政府都有權收回土地. 續租時政府可能要你補地價或修改批地條款.