Houses in Japan rapidly depreciate like consumer durable goods – cars, fridges, golf clubs, etc. After 15 years, a home typically loses all value and is demolished on average just 30 years after being built. And so, despite a shrinking population, house building remains steady. 87% of Japan’s home sales are new homes (compared with only 11-34% in Western countries). This puts the total number of new houses built in Japan on par with the US, despite having only a third of the population. This begs the question: why don’t the Japanese value their old homes?
--http://www.archdaily.com/450212/why-japan-is-crazy-about-housing/
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