Last option for people to change the leasehold under favorable conditions
The arrangement is designed for leaseholders who did not make timely use of the opportunity to switch to perpetual leasehold. This was possible before January 8, 2020 on favorable financial terms. Leaseholders who, for whatever reason, did not succeed in doing so now have the opportunity to apply for the same favorable conditions.
If you qualify for the arrangement, you will be notified personally in the first week of December. You submit your application in the Transfer Portal. Your application is not complete until you have completed steps 1 to 3 of the step-by-step overview and have received the confirmation e-mail.
If you have not received a message but think you are eligible, submit an application in the Transfer Portal. We will then assess whether you are actually eligible to transfer under the Regrettable Option Program.
You must meet the following to be eligible to apply:
You also owned the relevant leasehold right before January 8, 2020.
Before January 8, 2020, the leasehold right had the destination “residential only” (and related appurtenances, such as the associated parking space or storage room). Therefore, there is no commercial use such as business premises, stores or offices in the leasehold right.
You are not in arrears with your rent.
You meet all the obligations in the general and special provisions applicable to the perpetual leasehold right.
Leaseholders who meet these requirements can apply to transfer under the regretoption scheme during the period from November 28, 2022 to July 31, 2023 at the latest.
If you are switching you will use the same conditions that applied to a switch before January 8, 2020. These conditions affect the calculation of the canon or redemption price for perpetual ground leases.
These are the conditions that apply to the regretoption scheme:
The lowest WOZ value from 2014 or 2015
The canon rate of 2.39%
The neighborhood street ratio (BSQ) of 2017
An interchange premium of 35%