Tokyo apartment discounts in April

We have been receiving more than a few inquiries from keen buyers looking to snag a bargain in the current market, and we have been monitoring the market very closely. The bad news is that while reported transactions have fallen a lot in April, the data from REINS shows that price negotiations on in the residential market appear to remain relatively unchanged from last year. This is in line with what we are seeing on the ground. There are a few big discounts here and there, but they remain outliers.

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Mortgage stress on the rise

The Japan Housing Finance Agency (JHF) is reporting a surge in inquiries from borrowers who are struggling to make home loan repayments in the current crisis. As economic conditions worsen amidst the coronavirus pandemic a growing number of companies are laying off workers or reducing hours and pay. Household finances are being stretched to the limit, putting some borrowers in a precarious situation. 

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Home loan interest rates to rise in May

Four of Japan’s leading banks will be increasing their advertised interest rates on home loans this month. This is in response to an increase in the 10-year government bond yield.

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Japan’s high-rise apartment market from 2020 to 2024 onwards

There are currently 103,100 apartments in 258 high-rise buildings planned for completion across Japan from 2020 onwards, however, the coronavirus pandemic and nationwide state of emergency declared in April 2020 may see some construction projects delayed as a result. This is an increase of 8,009 apartments and 27 buildings from the previous report issued by the Real Estate Economic Institute in March 2019.

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Population in Chuo, Tokyo, reaches 66-year high

As of April 27, the population of Chuo Ward in central Tokyo reached 172,000 residents - the highest level since 1953.

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90% of real estate companies now feeling effects of coronavirus

Over 90% of real estate companies are now reporting that the coronavirus pandemic is affecting their business activities. This is a 20 point increase from a previous survey carried out in early March.

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