They've also been more aggressive about taxing real estate investment (they leaned their lesson in the 80s) and their zoning laws aren't captured by local busybodies.
More housing units per person. Also Japan did not have a lot of nimby mentality blocking new housing, to my knowledge
Lower rates offsets the price reduction to a certain extent.
The Kansai region has an increasing population and real estate prices are still in decline or stable.
Also Japan did not have a lot of nimby mentality blocking new housing, to my knowledge
Yes, they did - prior to 2001 when the national government took zoning authority away from municipalities.
https://fred.stlouisfed.org/series/QJPN628BIS
If a growing region is declining, I would expect building to be outpacing growth, or a cultural trend away from wanting to own (reduction in demand for purchasing despite growing population)