Condominium

Tokyo’s Real Estate Outlook 2024: Insights from NLI Research for International Investors and Residents

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Introduction

 

*Greater Tokyo transaction price and transaction numbers

(From NLI chart)

 

As a leading expert with 15 years of experience as a residential property investor and landlord in Tokyo’s real estate market,

Yamamoto Property Advisory offers unparalleled insights and tailored investment strategies

for foreign investors looking to navigate this dynamic landscape.

Our deep understanding from a landlord’s perspective enriches our advisory services,

ensuring that you receive the most informed and strategic guidance available.

 

The report from NLI Research Institute, a think tank of Nihon Life insurance group, dated March 22, 2024,

provides an analysis of the used condominium market in the Tokyo metropolitan area (greater Tokyo, including

Tokyo, Kanagawa, Saitama and Chiba)with a focus on the effects of financial policy changes

and market dynamics.

 

The used condominium market in the Tokyo metropolitan area has a significant impact on the overall real estate market in Japan

due to its large scale and influence,and because Tokyo is the center of economic activity in Japan. For this reason,

this market is considered an indicator of the entire Japanese real estate market.

 

 

Here’s a concise summary of the main points of the report.

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Tokyo’s Property Market in 2023 (as of October) : An In-Depth Guide for Overseas Investors

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Introduction:

Tokyo, a city that seamlessly blends the ultramodern with the traditional, stands as a beacon of opportunity in the global real estate landscape. For foreign investors looking to dive into this market, understanding its current trends is crucial. In this comprehensive guide, we’ll explore the latest developments in Tokyo’s real estate market, focusing on the used condominium sector, which offers insightful glimpses into the city’s economic heartbeat.

 

*Please click to enlarge the image

 

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The Japanese Housing Market: Is it Time to Buy?

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The Japanese Housing Market: Is it Time to Buy?

The prices of newly built standalone homes and condominiums in Japan

have been rising steadily for the past few years,

but there is a growing concern that the market may

be reaching a turning point.

The prices of newly built standalone homes and condominiums

have been rising steadily for the past few years.

 

The price of used condominiums has increased by more than 70% over 10 years.

 

The rise in condominium prices, especially in the metropolitan area, continues.

However, there is a growing concern that the market may be reaching a turning point.

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Investing in Japan’s Ageing Condominiums: Opportunities and Insights for Foreign Investors Amid Legal Changes

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Investing in Japan’s Ageing Condominiums:

 

Opportunities and Insights for

 

Foreign Investors Amid Legal Changes

 

 

Are you a foreign investor interested

 

in Japan’s real estate market?

 

 

 

As a leading real estate agent for foreign investors, we’re here to provide you with the latest updates

 

and insights into the industry.

 

Today, we’re discussing the Japanese government’s proposed amendments

 

to the Condominium Ownership Act and what it could mean for you as a potential investor.

 

 

The Japanese government is considering amending the Condominium Ownership Act by the fiscal year 2024,

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Unlocking Wealth in Japan’s Property Market: An Investment Roadmap for Affluent Individuals

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Discovering Lucrative Opportunities in Japanese Real Estate

 

for High-Net-Worth Investors

 

Introduction:

 

Japan has long been an attractive destination for high-net-worth individuals

 

who appreciate its rich culture, modern cities, and stunning landscapes.

 

As the yen continues to depreciate and real estate prices remain relatively low compared to other global cities,

 

now is the perfect time for investors with a net worth of 1-2 million

 

US dollars to explore opportunities in the Japanese property market.

 

Prime Locations:

 

While Tokyo is the most popular choice for foreign investors,

other metropolitan areas such as Osaka and Nagoya also offer attractive investment prospects.

For those interested in resort properties, Hokkaido and Okinawa are becoming increasingly popular choices.

 

Example Properties in Tokyo:

 

Minato-ku, Tokyo: A luxurious 2-bedroom apartment in the upscale Minato-ku district offers

 

investors a taste of cosmopolitan living. With a price tag of around $1 million,

 

the apartment offers a potential rental yield of 4-5%.

 

Shibuya-ku, Tokyo: A modern one-bedroom apartment in the vibrant Shibuya-ku area offers

 

a more affordable investment option at around $500,000.

 

The potential rental yield for this property is approximately 3-4%.

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“Revolutionizing Urban Living: SETAGAYA Qs-GARDEN Unveils a Multigenerational Community for Enhanced Well-Being”

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Revolutionizing Urban Living:

SETAGAYA Qs-GARDEN Unveils

a Multigenerational Community

for Enhanced Well-Being

 

On March  27th, 2023, five large companies, including Dai-ichi Life Insurance,

 

Marubeni Urban Development, Aioi Nissay Housing, NTT Urban Development,

 

and Nomura Real Estate announced the opening of “SETAGAYA Qs-GARDEN”

 

in Setagaya, Tokyo.

 

The project aims to create a community that promotes the well-being of its residents

 

by constructing multi-generational housing,

 

sports facilities, and community centres on a 9-hectare site owned

 

by Dai-ichi Life Insurance.

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Rising Used Condominium Prices in Tokyo and Major Japanese Metropolitan Areas: A Closer Look at the Trends

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Rising Used Condominium Prices in Tokyo and Major Japanese Metropolitan Areas

Tokyo Kantei Press Released on March 23, 2023

 

Major Cities in the Three Major Metropolitan Areas: Monthly Trends in Used Condominium Prices (70 sqm)

In February, used condominium prices in the Tokyo metropolitan area increased

by 0.4% compared to the previous month, reaching 48.66 million yen,

marking the third consecutive month of increase.

In central Tokyo, prices once again surpassed the 100 million yen mark.

The average prices in the Kinki and Chubu regions also continued to rise modestly,

with no significant downward movement seen in the market.

In February 2023, used condominium prices in the Tokyo metropolitan area

rose for the third consecutive month, with a slight increase of 0.4% compared to the previous month,

reaching 48.66 million yen.

 

When looking at the data by prefecture, Tokyo saw an increase of 0.7% to 64.41 million yen,

surpassing the record high set in December of the previous year.

 

In Kanagawa Prefecture (+0.4%, 36.68 million yen), prices continued to rise compared

to the previous month, while in Chiba Prefecture (+1.7%, 28.29 million yen),

prices have been on an upward trend since April of the previous year.

 

On the other hand, prices in Saitama Prefecture decreased slightly by 0.4% to 30.49 million yen,

marking the first decline in six months.

 

The average price in the Kinki region increased for the first time in two months,

with a slight increase of 0.2% to 29.14 million yen, due to the strength of the Osaka area.

In Osaka Prefecture, the price showed a similar movement with a 0.2% increase to 31.28 million yen,

but it did not surpass the level reached in December of the previous year.

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Japanese Condominium Prices For Investment Reach Record High in Q1 2023 (by Rakumachi)

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Rakumachi, a real estate website in Japan, conducted market research for the first quarter of 2023

and found that the prices of all types of investment properties in Japan have increased.

(Not property for living)

 

The average price of one-room apartments increased to 74.95 million yen,

the average price of one-building apartments rose to 277.9 million yen,

and the average price of condominiums rose to 18.81 million yen.

One-room apartments had a yield of 8.98%（gross yield), while one-building apartments had a yield of 7.52%(gross yield),

and condominiums had a yield of 6.87% (gross yield).

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“au Jibun Bank and SBI Sumishin Net Bank Shake Up the Japanese Home Loan Market: A Borrower’s Guide”

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Competitive Landscape in Japan’s

Home Loan Industry

: Unraveling the Impact of

Internet-Only Banks

 

The Japanese home loan market is witnessing fierce competition, with internet-only banks

 

such as au Jibun Bank and SBI Sumishin Net Bank leading the charge.

 

 

These banks leverage their lower operating costs to offer attractive interest rates

 

on variable-rate home loans.

 

Recently, au Jibun Bank expanded its preferential rates, reaching as low as 0.196%

 

for some customers. Meanwhile, SBI Sumishin Net Bank,

 

which has a market share of around 5%, reduced its refinancing rate to 0.299%.

 

 

Traditional banks are also competing by lowering their expenses through digitization

 

and offering competitive interest rates.

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