I live in Korea. Land and real estate are purely seen as investment vehicles. Nothing else. You don't live in the same place for more than a few years. Actually, calling it an investment in generous, most do it as speculation. Buying it with the hopes of flipping it for a higher price.

When I lived in Europe, people would buy land or real-estate with the goal of living there for the rest of their lives. That's how I see it too.