A leasehold is a property tenure in which the occupier holds rights to the structure for a defined period but does not own the land beneath it. Leaseholders may pay additional fees and need to renew an expiring lease. section 10.4.1
When analyzing property transaction data:
- Treat leasehold as a category in a duration field rather than as a property type. section 10.4.1
- Compare its frequency with freehold properties as a basic distribution sanity check. section 10.4.1
price_paid["duration"] = (
price_paid["duration"]
.map(
{
"F": "Freehold",
"L": "Leasehold"
}
)
)
price_paid["duration"].value_counts()
Maps duration codes to readable Freehold and Leasehold labels, then counts each category. section 10.4.1
