TOKYO: Mie Kawamata dreamed of owning a home where she could tend a small garden and her 1-year-old daughter could play outside, yet still be close enough to commute to central Tokyo.
After weathering decades of deflation and stagnant growth, Japan is seeing an investment boom that has made apartments in central Tokyo unaffordable for young Japanese professionals. A 60 sq m apartment in Tokyo now costs 15 times a skilled worker's salary, up from 10 times a decade ago and well above London, Singapore and New York, the UBS report showed.
Foreigners have piled more than 1.8 trillion yen into Japanese real estate since 2019, outstripping flows from institutional investors, property funds, and corporations, according to consultancy Cushman & Wakefield. Average condo prices in central Tokyo were bumped up in the past year by a large supply of high-end residences hitting the market. Emblematic of that is the new Azabudai Hills complex, featuring the country's largest office tower and about 1,400 residential units.
"In Japan, the political and economical situation is stable," Wang said about the attractiveness of the market."Tokyo is still not that expensive compared to other big cities like Hong Kong and London."
Source: Real Estate Daily Report (realestatedailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
France to hold crisis meetings on bedbug 'scourge'PARIS: The French government said on Tuesday (Oct 3) it would host emergency meetings this week to examine surging numbers of reported bedbug cases, which are being increasingly seen as a major potential public health problem. Bedbugs have in recent weeks gone from being a subject of potential derision to
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan's top FX diplomat Kanda: Will take appropriate steps vs excessive yen movesTOKYO : Japan's top currency diplomat Masato Kanda said on Wednesday authorities will take appropriate steps against excessive moves in the yen, without ruling out any options.One-sided, big moves in the yen would be considered 'excessive,' said Kanda, who is Japan's vice finance minister for internationa
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan service activity growth slows down in SeptemberTOKYO : Japan's service activity in September expanded for the 13th month but at the slowest pace since the start of the year, a private survey showed, a worrying sign as the sector has been a key driver of economic growth amid weakness in manufacturing. The final au Jibun Bank Japan Service purchasing ma
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Explainer-What would Japanese intervention to boost the weak yen look like?TOKYO : Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as investors eye prospects of higher-for-longer U.S. interest rates while the Bank of Japan remains wedded to its super low interest rate policy.The yen strengthened sharply against the dollar on Tuesda
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Softbank CEO Masayoshi Son says artificial general intelligence will come within 10 yearsTOKYO : SoftBank CEO Masayoshi Son said he believes artificial general intelligence (AGI), artificial intelligence that surpasses human intelligence in almost all areas, will be realised within 10 years.Speaking at the SoftBank World corporate conference, Son said he believes AGI will be ten times more in
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »