The word freehold refers to the type of ownership of a property. If ownership is freehold it means that the owner actually owns the land that the property is located on and any buildings located on the land itself as opposed to just the building itself. The type of ownership of a property is an important factor for house hunters in the UK as there are certain legal restrictions associated with leasehold properties. As such the demand for freehold housing is much greater and the fact that a property is a freehold rather than a leasehold may mean a significant boost in the valuation.
The supposed downside of a freehold property compared to a leasehold is that as the owner of the land and the building, you are the sole person responsible for all aspects of the property's upkeep. Despite this, the word "freehold" remains a popular search term for house hunters on Mitula.