>So you’d say to yourself, well clearly they’re targeting the affluent then. Except there are only so many high income Americans you can sell to They're target

>So you’d say to yourself, well clearly they’re targeting the affluent then. Except there are only so many high income Americans you can sell to They're targeting high net worth individuals looking for a store of value (or, in some cases, a foothold/bolthole from their repressive government). High income Americans are to these flats what jewellery/smartphones are to gold - the underlying use value that, combined with natural scarcity, drives the hoarding instinct. It's quite possible to pull the rug out from under the feet of the ultrawealthy by instituting a steep land value tax. This would kill the hoarding instinct, kill the NIMBY instinct and drive more efficient use of land.