Personally, I think the issue is affordable housing. Whether it is renting or owning is another discussion. High taxes will definitely encourage people to util

Personally, I think the issue is affordable housing. Whether it is renting or owning is another discussion. High taxes will definitely encourage people to utilize their housing stock. But encouragement is not really enough for foreign investors. Instead the local government should be able to use housing with no registered occupants and rent it out to people in need. naturally there will be a due process, and the owner should be able to collect their rent payments at the municipality offices and take over the lease themselves. This would generate realistic housing prices. But then again - the oligarchy wouldn't like that an asset it made less speculative for them.