Scroll through homes for sale in Curaçao and you'll soon see two words next to the price: eigendom or erfpacht. They describe who owns the land the house stands on, and they make a real difference to the price, the yearly costs and your plans for the future. Here is what each means, in plain language.
Freehold (eigendom): the house and the land are yours
With freehold, you own both the building and the plot. There is no landlord behind the scenes and no end date. You pay the yearly property tax (onroerendezaakbelasting), but there is no ground rent. Freehold gives the most certainty, which is why it is the most sought-after form of ownership and usually comes at a higher price per square metre.
Leasehold (erfpacht): you own the house, the land is leased
A large share of the land in Curaçao belongs to the government, which issues it in erfpacht: a long-term right to use the land. You own the house, but the plot stays government property. According to Curaçao notaries, the government usually issues leasehold for a period of sixty years. There is also private leasehold, where the land belongs to a private owner instead.
For that right you pay a yearly ground rent, the canon, calculated per square metre. For government land, the amount is set by ministerial decision. On top of the canon you still pay the yearly property tax, just as with freehold.
Why erfpacht homes are often cheaper
Because you are not buying the land itself, leasehold homes are generally priced lower than comparable freehold homes. For many buyers that is a smart trade-off: a bigger house or a better location for the same budget, in exchange for a modest yearly canon. Many established neighbourhoods in Curaçao, including parts of the central residential areas, are built largely on leasehold land.
What happens when the term ends?
A leasehold right has a fixed end date. When it approaches, the leaseholder can apply for renewal; when the government grants a new term, the canon is often reassessed in line with the land value at that moment. That is why it is wise to check how many years are left before you buy, and to start the renewal process well before the end date.
In some cases the government also allows leasehold land to be converted into freehold by buying the plot. Whether that is possible depends on current policy and the location of the land, and the price is based on a valuation of the land.
What to check before you buy
Before signing, make sure you know: whether the land is freehold, government leasehold or private leasehold; how many years remain on the lease; the current yearly canon and whether a revision is coming; and whether the canon has been paid up to date. The notary checks the legal side in the public land registry, but asking these questions early avoids surprises in your budget.
Leasehold also matters for financing. Banks in Curaçao do finance leasehold homes, but they look closely at the remaining term. A long remaining lease makes a mortgage much easier.
Which one is right for you?
If you are buying for the long term or for the next generation, freehold gives the most peace of mind. If you want more house for your budget, or you are investing for rental income, a leasehold property with a long remaining term can be an excellent choice. In every listing on our website you will see which applies, and we are always happy to explain the details of a specific property.
Sources: Baaten & Alexander and Fung-A-Loi & Samandar civil-law notaries in Curaçao, and Curaçao real estate market publications (2025–2026). This article is general information, not legal advice.