The long term housing yield is estimated using a natural experiment approach in the UK from 2003 to present. Most apartments in the U.K. are sold as "leaseholds" — long duration leases starting at ninety years or more, issued by the ultimate owner of the property, or "freeholder''. The leaseholder can buy or sell the lease, giving each lease a series of market prices. Moreover leaseholders have the right to extend their lease conditional on paying freeholders the value of the lease extension. Lease extensions typically happen when the current lease has somewhere between 60 to 90 years left, and the typical extension is for an additional 90 years or more. 

Bäcker-Peral, Hazell and Mian (2024) assembles a new data set on leasehold extensions and transactions from 2003 to the present, which can be used to estimate the long term housing yield.  The latest draft of the working paper, which includes more details on the methodology used, can be downloaded here.