The insane real estate prices in some parts of Europe are mostly due (besides the monetary policies, NIMBYsm, regulations, and inherited wealth) to the scarcity

The insane real estate prices in some parts of Europe are mostly due (besides the monetary policies, NIMBYsm, regulations, and inherited wealth) to the scarcity of land in that desirable location, and less about the quality of what's built on it. And I'm not even talking about beach front properties in the south of France. Ive seen many old houses for sale in Germany for ludicrous money, that you'd basically have to tear down and build something livable.