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> In Japan, I have lived in the same rented apartment with no rent increases for a decade. This is unimaginable in the UK. This is also because Japan has been
by resolutebat 3y ago
> In Japan, I have lived in the same rented apartment with no rent increases for a decade. This is unimaginable in the UK.
This is also because Japan has been at zero or negative inflation for the past decade, while the UK has not. Also, essentially the entire country outside of Tokyo is shrinking in population, which obviously depresses property prices.
- Tade0 3y ago> Also, essentially the entire country outside of Tokyo is shrinking in population, which obviously depresses property prices. I wish this was a significant effect, but my country peaked in population in the late 90s and had Japan-level fertility (and suicide BTW) rates since, but we got hit with the same insane housing price increases as everyone else.
- Schiendelman 3y agoWhat country?
- Tade0 3y agoPoland. Second chart shows average transaction prices per square metre in Warsaw - yellow is new apartments, blue indicates used: https://zametr.pl/ceny-mieszkan/warszawa https://zametr.pl/ceny-mieszkan/warszawa Around 2017, when there was little to no inflation, prices started going up. This can't be explained by things like the influx of Ukrainians, since that originally started en masse after the annexation of Crimea in 2014. Also there's no such effect in 2022. What is known though is that starting in 2014 investment properties started becoming an increasingly large proportion of the market - going from single-digit percentages in 2012 to 42%+ right before the pandemic.
- HDMI_Cable 3y agoWhat country? Perhaps the combined effect of deflationary pressure, Japanese-specific zoning laws, and shrinking population has created this lack of housing crisis.