The residential market in Tokyo's 23 districts has witnessed a striking boom over the last ten years, with the price of 'billion-yen condos' inflating sixteen-fold. These wealthy palaces, commonly referred to as 'Okyan' in Japan, are in growing demand, primarily among affluent families and investors seeking profitable assets. The unusual rise in prices may indicate significant changes in the nation’s real estate industry.

Real estate in Japan, particularly in Tokyo, is considered a sure investment given that land is a scarce commodity in the country. The 'Okyan' fever shows growing wealth concentration and disparity. It also reflects shifts in societal values, with people prioritizing high-end, comfortable living in urban centers.

In comparison, the US real estate market has seen a significant increase in luxury housing prices over the past decade but not as drastic as in Tokyo. The EU, on the other hand, has diverse trends with some areas experiencing falls while others are rising.