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If only a single self fulfilling data point of the largest city of an insular society (requiring citizenship to buy) with falling population near the edge of re
by kurthr 8y ago
If only a single self fulfilling data point of the largest city of an insular society (requiring citizenship to buy) with falling population near the edge of recession for 30 years was representative of the world's real estate market.
Also, I'd recommend talking to people in Tokyo about the cost of living/working there (you'll find most people commute in over an hour by train) and about rising homelessness. This is with a population growth rate over the last 30 years of less than 0.5% and is EXPECTED TO RELENTLESSLY DECLINE AFTER 2020 to 2100 by 6million people.
http://worldpopulationreview.com/world-cities/tokyo-population/ http://worldpopulationreview.com/world-cities/tokyo-populati...
If you want some other data points on massive building increases, I offer you Beijing, Shanghai, and Shenzhen, where prices have doubled many times while the available housing has also more than doubled over less than 30 years at a more than 2.5% population growth rate.
- eecsninja 8y agoThe data you linked is for the entire Tokyo metropolitan area. The trend is that people are moving out of rural areas and into the urban core. It would be more appropriate to look at the central part of Tokyo, the 23 wards (former city of Tokyo): http://www.newgeography.com/content/002923-the-evolving-urban-form-tokyo http://www.newgeography.com/content/002923-the-evolving-urba... From 1990 to 2010 (latest year in data), the population grew 9.6%. In the same time period, SF's population grew 11.3%: http://worldpopulationreview.com/us-counties/ca/san-francisco-county-population/ http://worldpopulationreview.com/us-counties/ca/san-francisc... Not a big difference if you ask me. Yet SF prices have skyrocketed. Tokyo may require citizenship to buy, but that doesn't mean foreigners can't rent. Rent prices in central Tokyo often start at around $1500/month, which is a lot less than that of SF bay area suburbs.
- pixelcort 8y agoIt is possible to buy housing in Tokyo without citizenship. You don’t even need permanent residency. Source: I am a homeowner in Tokyo.