No? If you build new housing units it doesn’t matter if outsiders buy them. There will be more units to satisfy demand, both foreign and local. And buying a un

No? If you build new housing units it doesn’t matter if outsiders buy them. There will be more units to satisfy demand, both foreign and local. And buying a unit to rent it does not change the housing supply. It is new people moving to a city that fills up supply. Is that what you meant by profitability: buying an apartment to rent? Every city has landlords.