Apartment price to income ratio worsens in 2012
August 1, 2013Tokyo apartment pricesReal Estate News,Market Information,All,Osaka,Tokyo,Kyoto
According to data released by Tokyo Kantei on July 30, the average price of a brand new apartment in Japan was 6.53 times the average annual income, while a second-hand apartment (less than 10 yrs old) was 4.56 times the average income.
While apartment prices are rising, income levels are still declining. The average annual income in 2012 fell 4.6% to 4,170,000 Yen. This is the third year in a row where incomes have fallen.Read more
Using the right agent to sell your property
While you may put a lot of effort into finding the right property to buy, when it comes to selling many will entrust everything to the broker. But putting too much faith into your broker can sometimes be a bad thing.
Before picking a broker, it is essential that you do some homework.
"When listing my apartment, I met with several brokers and went with the one that gave me the highest market evaluation. It was an exclusive contract with a three month term. Each week, however, the broker would call to report that they had no inquiries. Eventually they said that a larger apartment in a nearby building recently sold at a much lower price and that I needed to drop my asking price considerably.
After having a look at comparable properties on the market, I realised that, despite the sales pitch by the broker, my apartment's initial asking price was far too high. At the end of the three month's I switched to another broker and finally sold the apartment at a more reasonable price."
-- A 49-year old seller in Tokyo
Areas where property prices are likely to outperform Japan's inflation target
July 30, 2013AbenomicsReal Estate News,Market Information,All,Tokyo
With the Bank of Japan's governor Haruhiko Kuroda setting a 2% inflation rate target within the next two years, which locations are more likely to receive the benefits of inflating asset prices and which areas are not?
In July 2002, Nikkei Business published a special feature on the 'real estate revolution' as Japan's property market was reaching a turning point. The feature stressed the importance of looking at the investment returns on all types of real estate and introduced the reporting of rental returns by train station.
More than 10 years have passed since the original article, and the Japan appears to be at another turning point.Read more
The Jingumae Residence 84% sold
July 29, 2013Jingumae,Omotesando apartments,Omotesando Real Estate,Jingumae Apartments,The Jingumae ResidenceNew Construction,Real Estate News,All,Tokyo
The Jingumae Residence, a recently completed condominium near Omotesando, has seen a surge in sales in the first half of 2013.
The sales office and showroom opened in January 2012. Of the 148 apartments available for sale, only 60 were sold in 2012. By mid-2013, a total of 125 apartments had sold, leaving 23 apartments remaining for sale. Approximately 15% of the buyers have been foreign investors from Singapore, Hong Kong and Taiwan.Read more
How to preserve the value of your apartment? Buy and sell every 10 years
July 27, 2013Property Purchasing Guide,All
If you want to maintain the value of your real estate investment, Attractors Lab President Yujin Oki suggests that you should change apartments every 10 years.
Why 10 years?
One reason is that our lifestyles tend to change every decade or so. For example, your home requirements will be different as you move through different phases in life such as being single, getting married and having a two-income household, having children, retirement and old age. Read more
Akasaka Business Place sold
July 26, 2013Akasaka Real EstateOffice/Retail News & Information,Real Estate News,Sold Properties,All,Tokyo
Daiwa Office Investment Corporation acquired Akasaka Business Place from Hakuba Capital 1 TMK (Angelo Gordon's SPC) for 9.2 billion Yen (approximately 92 million USD).Read more
Secondhand apartment prices in June - Tokyo Kantei
July 25, 2013japan apartment price,Tokyo apartment pricesReal Estate News,Market Information,All
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo's 23-ku in June was 39,720,000 Yen (397,000 USD), up 0.3% from last month and 0.7% higher than June 2012.
Across greater Tokyo, the average price was 27,700,000 Yen (277,000 USD), up 0.4% from last month but down 2.7% from last year.Read more