[OC] Housing has become increasingly unaffordable in Singapore, more so than in other high-cost citiesMaguncia t1_ivzxdhe wrote
Reply to comment by Bewaretheicespiders in [OC] Housing has become increasingly unaffordable in Singapore, more so than in other high-cost cities by earthlymonarch
People care about housing cost, not land value. A limited upzoning on a few plots will make those plots of land more valuable because there is a scarcity of developable land. Individual housing units will still become cheaper, though, since supply will increase (obviously a developer will not be able to sell the new units on upzoned land above the market, and they will provide competition to existing single-family homes). A large-scale upzoning will remove that scarcity, and land prices won't change nearly as much, except in truly prime locations that were very underzoned for some reason. Marginal land on the periphery (outer suburbs, exurbs) will lose a lot of value, since people are no longer squeezed all the way out there. Individual units will become significantly cheaper everywhere, of course.
Bewaretheicespiders t1_iw08878 wrote
Land value diffectly affects housing cost. Its why you see dilapidated buildings selling for millions of dollars in Vancouver.
If you think density can solve housing cost, point us to a city that became cheaper by densifying.
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