There was a post on hacker news a while back about a study in Finland showing that it doesn't matter if the new builds are "luxury", they increase so supply which will always eventually stop/slow/reverse price increases.
This actually makes sense in terms of supply and demand but more interestingly it's because people tend to "upgrade" when they move this then frees up space at the lower end of the market.
This actually makes sense in terms of supply and demand but more interestingly it's because people tend to "upgrade" when they move this then frees up space at the lower end of the market.