TOKYO -- Prices of new housing in Japan rose faster than wages last year, with demand for investment properties leading to a proliferation of luxury condominiums and making the market less affordable for actual homebuyers.
Property
Buying a new condo in Japan costs 10 times average salary
Big-money property investors drive up housing market in Tokyo
Investors have snapped up luxury condominiums in central Tokyo, betting on further price rises. (Photo by Ryuju Funatsu)
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