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Latest Market Information

2020 Tokyo Olympics revamping central Tokyo

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(Current JR East ‘Harajuku’ station)

Tokyo will host the Rugby World Cup in 2019 and Olympics and Paralympics in 2020.
In view of the two big events and rapid growth of the inbound tourism, In Tokyo, there are a number of revamp projects in the pipe line now.
Today I pick up one of the projects by EAST Japan Railway Company (JR East)
involving Sendagaya station which is the closest station to the new National Stadium and Harajuku Ekimae project by NTT group.
Tokyo and neighbouring cities have been developed sufficiently and in a sense have been seeing the matured status
over the years,however, when the new development plans are revealed by the developers and the railway companies,
the real estate price in the redevelopment area picks up and price hike is likely to continue for over several years.

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Is it the good time to buy a property in Tokyo ? – Quick recapitulation on condominium market in Tokyo in 2017-

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Tokyo kankei (Japan’s institute for real estate study) recently announced
the market report on the condominiums in greater Tokyo area.
We have made the recapitulation of the report for the clients.
I will share a part of our report today.
Both prices of newly built second-hand condominiums and
unit price per square meter has gone up.
New construction projects were supplied mainly in central area of Tokyo
which sharply makes price rise.
The average price in the Tokyo metropolitan area (Tokyo and neighbouring cities) of newly built condominiums was 55.44 million yen, up + 9.0% from the previous year’s 50.87 million yen.
Because it was falling the previous year, it rose for the first time in two years, and the
whole metropolitan area shows a trend of rising again from a high stop.
The reason for price rise was due to the strong tendency of supply to concentrate in central Tokyo.
The average area for each condominium was 63.24 square meters, which was up  3.1% from 61.33 square meters in the previous year.

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The latest news on the Japanese property market

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I am studying  a few reports on the current Japanese property market.
I will share my detailed analysis on this blog soon.
Over all, the Japanese market is steady.
According to the Government’s announcement in July 2017,
the national average standard price of land
rose by 0.5% compared to the previous year and it increased
for the second consecutive year.
Land for stores and hotels rose as the number of visitors to
Japan increased and redevelopment became a driving force in urban areas.
Ginza, Tokyo cracks a mark of price of the bubble period (late 80’s)
for the first time in 26 years.
Land prices of Ginza 2 chome in Tokyo exceeded the price during the bubble period.

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Is Japan really shrinking ?

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Every day in the traditional medias and social medias, I  encounter the news
discussing rapidly greying Japan and the shortage of labour with rather gloomy tone.
According to the official survey announced by the government in August 2017,
the total population (excluding foreign nationals) of Japan was 125 million,
decreased for eight consecutive years.
It decreased by 300,000 from the previous year, and was the highest drop since the survey
started in 1968. The number of registered foreign residents was 2.32 million.
In the meantime, the government also announced that Japan’s economy
expanded for the seventh straight quarter in July to September (2017),
the longest growth since 1994.  So what is going on in Japan ?
Ironically the vigorous economy also highlights a chronic labour crunch
caused by the country’s ageing, shrinking population.
Japan now relies heavily on foreign labour, and experts have been
urging more public debate on immigration policy as Japan
continues to age and shrink.Read more