Happy,
In my experience, there is no freehold in HK any longer. When you do the property search a part of the legal aspect of the purchase you will see the original lease and how much time is remaining on that lease. For example you may buy a property that is on a 75 year lease but the lease is already 25 years old hence there is only 50 years left on it. They don't start over when you buy.
BA