Foreign buyers pushing up land prices in Japan?
Foreign buyers are reportedly joining the apartment buying frenzy in Japan. The recent weakening of the Yen by up to 20% means an offshore buyer can now save as much as 20 million Yen when buying a 100 million Yen apartment (assuming they were initially planning to buy last year but put it off until now).Read more
Asia's wealthy actively seeking luxury real estate in Tokyo
According to the Nikkei Shimbun, Asia's wealthy have taken a bullish approach to Japan's property market and are actively purchasing luxury condominiums in Tokyo.
Citing Abenomics, a weakening Yen and over-heated foreign real estate markets, foreign buyers are clamouring to buy what they consider relatively inexpensive high-end apartments for investment or personal use.Read more
Mitsui Real Estate ties up with Beijing Homelink
Mitsui Real Estate Sales announced a new venture with Beijing Homelink Real Estate Service Brokerage, the biggest property agency in Beijing, to offer brokerage services for wealthy Chinese looking to purchase apartments in Japan.
Mitsui is also considering starting a specialized property consulting service in Beijing in 2011.Read more
Asian buyers are top foreign purchasers in Japan
The Wall Street Journal has an interesting article on the shift among foreign buyers of Japanese real estate.
Asian buyers, both corporate and individual, made 18 real estate acquisitions in Japan in 2010 for a total of USD 372 million. US buyers made 3 deals totalling just USD 6 million.Read more