Leasehold is widespread in the UK for flats, in Switzerland for Baurecht (building right on third-party land), and in many cities globally for ground leases. Lease terms range from 50 to 999 years; remaining term and ground rent drive value.
When a lease runs short (typically below 80 years in the UK), the property becomes harder to sell and mortgage. Lease extension is possible but increasingly expensive as the remaining term shrinks — owners should plan extension before the value cliff.
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A London flat held on a 95-year lease at GBP 250 annual ground rent loses noticeable value as the term drops below 80 years; an extension at year 75 may cost tens of thousands of pounds.