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Chasing may not be an option if the structure is all concrete. You would need somone to really have a physical look at it. I think you summed it up quite well in your opening post as to the longevity expectations. It really all depends on whether you are living in it or intend to rent it. If the latter a rewire is almost inevitable. I imagine that the cables at the lights and sockets may be pretty frazzled, but then sometimes they are not. The conduit may be good and maybe rusted away at certain points. It may necessitate surface wiring all round in some cases if it is all concrete walls/ceilings. What kind of structure is the property i.e. bricks or????