The outlook for Okinawa’s real estate market has shifted negative.
According to the Association of Real Estate Appraisers for Okinawa Prefecture’s report issued December 6, almost two-thirds of respondents indicated that new apartment sales were worsening, while just 14% indicated that they were improving.
For the resale market, 40% reported conditions were worsening, while 14% believed that they were improving. Rising prices may be causing some potential buyers to hold off on purchasing homes. Strict lending conditions are also limiting some sales.
The Association’s diffusion index showed a steep drop across residential, commercial and military-use land in the prefecture, indicating that price growth may be slowing.
Source: The Ryukyu Shimpo, December 7, 2019.
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