Скачать или смотреть Why is Tokyo's Housing affordable while Australia's is not? A solution to the housing crisis[APS041]

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Australia is experiencing an unprecedented housing crisis. According to data from the Australian Bureau of Statistics, in 2023, Australia's population grew by 660,000, including 550,000 net overseas migrants, while the new building start of residential housing was only 102,200, merely 40% of the actual demand for new homes. The number of new starts has shown a yearly declining trend.

Since the pandemic, an influx of immigrants into Australia has caused house prices and rents to surge by 30%-55%, making it unaffordable for countless middle and low-income Australians, even forcing real estate industry professionals to move away from the city centre to the suburbs. The term 'housing crisis' couldn't be more appropriate.

This scenario isn't just in Australia but also in international cities in the USA, Canada, and Europe. Whether buying or renting, it's becoming increasingly unaffordable, and it looks like nothing can change that.

However, the situation is entirely different in Tokyo, the world's largest group of cities, or Megalopolis. The Tokyo area houses nearly 40 million people. The 23 wards, which is a small area compared to the greater Tokyo, accommodate 9.3 million people. Although Tokyo's area exceeds New York's, its population growth is equally rapid. What's different is Tokyo has successfully avoided a severe housing crisis. Compared to cities like Sydney, London, Singapore, and even Shanghai, Tokyo's rents and house prices are astonishingly affordable, leading some to say Tokyo is the last affordable major city in the world.

Why are Tokyo's housing prices and rents so stable? If you're unfamiliar with Japan, you might attribute this to an aging and declining population. After all, fewer people mean less demand for housing, right? But that's not the reality. Over the past 15 years, the population of the Tokyo area has increased by about 1 million, while rents have only risen by 20%. How does Tokyo cope with ultra-high density and soaring population? Why are housing prices and rents not increasing as fast, making them affordable for more everyday people? What can Western countries, including Australia, learn, and what is simply unattainable? The most critical question is, if Australia adopts the Tokyo model, what does it mean for the residents and real estate investors 20 years from now?

00:00 Why is Tokyo's Housing affordable while Australia's is not?
04:01 Post-World War II Tokyo
06:45 1968 Urban Planning Law
08:15 1980s Japan Economic Bubble
11:15 Planning and Regulations
12:53 NIMBY (Not In My Back Yard)
14:04 Inheritance Tax
14:28 Consumer Goods not a Property
15:35 What Investors Should Do

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