
Has Tokyo reached “peak city”? - isolli
https://www.theguardian.com/cities/2019/jun/14/has-tokyo-reached-peak-city
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theandrewbailey
> real estate value is tied so closely to land rather than property

> Japanese real estate values land over property

Am I the only one confused by this phrasing? Does property not mean land in
British English the way it does in America?

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hexadec
Not sure, but it seems the conversation here is the difference between the
parcel of land (land) and the infrastructure/ home on that land (property).
Japan values the land so highly compared to the total property, houses are
essentially worthless but the land it sits on is the true store of value.

This leads to some interesting results: very few old homes and constantly
updating neighborhoods. As new residents tear down old homes that have become
out of fashion, dilapidated, or just because the construction market is so
efficient. And the construction technology with pre-fab components and nearly
constant demand is an interesting result.

