Muji enters house flipping business

Muji House, part of the household accessory brand Muji, has entered the renovate-to-resell market in Japan. They are planning to flip around 100 apartments annually, focused in Tokyo, Kanagawa, Chiba, and Saitama. Their first two “Muji Infill 0” projects are in Fuchi City and Yokohama City. The property search, planning and renovation took the company three years.

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New apartment supply up 25% in June

According to the Real Estate Economic Institute a total of 1,939 brand-new apartments were released for sale across greater Tokyo (Tokyo, Saitama, Kanagawa, Chiba) in June, down 24.8% from the previous month but up 25.7% from last year. This is 14% lower than the number supplied in June 2019 and 27% lower than the supply in June 2018.

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Commercial real estate activity set to increase further this year

Japan’s top real estate companies are expanding sales of properties to investors. Mitsui Fudosan is expecting a 42% increase in operating profit for the year ending March 2022, with sales to investors expecting to top 111 billion Yen (approx. US$1 billion), while Mitsubishi Estate is anticipating a 25% profit increase.

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