I have never seen a high density city have low rents. Mumbai, Hong Kong, London, NYC. Is there any factual and proven example of a city that has increased density and housing became affordable and cheaper as a result of more units?
Most residential units are not used or traded as a speculative asset.
[..] The majority of the residential housing developments in Singapore are publicly governed and developed, and home to approximately 78.7% of the resident population.[..]