[gruez]

Doesn't that just turn into a property tax of 1% per year, without a massive tax bill every 99 years? 99 years is long enough that there's going to be at least 2 owners, which means all sorts of strategizing required on how to plan for the renewal of the lease.

[eru]

Yes, 30 year leases or so would be probably be better. Our Gahmen in Singapore already switched to these shorter leases for commercial property.