If your question is whether a registered lease is deemed as an immovable property, please distinguish the difference between the right of use and the right of ownership. Therefore, a registered lease is never a property but a recognized right in law.
In our “askCA@Thursday” on 18 October 2012, we received a question, today we ANSWER:
Hi Chur Associates, i am appreciated if you could let me know that whether lease property considered as moveable property, a real estate property. Thank you :-)
Generally, real estate property is considered as immovable property. This includes both freehold and leasehold property as they are both alienated interest recognized under the National Land Code.