Foreign investors find Kyoto real estate cheap

According to the Kyoto Shimbun newspaper, offshore investors are out in force buying up real estate in Kyoto, with property prices in the historic city considered comparatively inexpensive.

Many of the interested foreign investors are in their 30s and 40s and living in international cities with soaring real estate prices. The majority are cash buyers and some even sign purchase contracts without visiting the property they are about to buy.

It’s not just individual investors that have returned to Kyoto, but institutional funds are also circling for acquisitions. The Prince Kyoto Takaragaike Hotel, designed by Togo Murano and opened in 1986, was announced as part of a 30-property sale to Singapore’s GIC fund earlier this year. 

The recent weakening of Japan’s Yen has made property prices even more appealing for offshore buyers. In mid-June, the Yen dropped to a 24-year low against the US dollar, trading at around 135 per USD. As of July 13, it was 136 per USD.

Source: The Kyoto Shimbun, June 28, 2022.

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