Check out this video explaining why you can buy new detached homes in Tokyo for about 300k usd. https://www.youtube.com/watch?v=iGbC5j4pG9w https://www.youtube

Check out this video explaining why you can buy new detached homes in Tokyo for about 300k usd. https://www.youtube.com/watch?v=iGbC5j4pG9w https://www.youtube.com/watch?v=iGbC5j4pG9w * Land owners have an absolute right to develop their own land - neighbors can't block you. * You can build a 60 m^2 x 3 floor house on 100m^2 of land, or more. So basically they build way denser, and reduce opportunities to block/rentseek.