The updated price comparison of condominiums and offices in Asian countries.

Post date: 4/23/2015

The price of condominiums and offices in Japan is looking comparatively cheap in the international market.

According to a private research organization, the price of a newly-built condominium in Tokyo as of April 1, 2015 is less than half price of the same in Hong Kong when converted into Japanese Yen. Influenced by the weakening Yen, Japan market is looking quite attractive internationally, and this is resulting to an increase in inflow of overseas investment funds to Japan.

The Japan Real Estate Institute (Minato-ku, Tokyo) announced on May 28^th that as of April 1^st, the price index of newly-built condominiums in Hong Kong are equivalent to 234.9 when Tokyo is considered 100. This outcome shows an approximate 20% increase in difference between the two cities as compared to the figure recorded 6 months ago, on October 1^st, 2014. The luxurious condominiums in Tokyo are also cheaper than those in Shanghai, Taipei, and Singapore.

The number of investments from Hong Kong and Taiwan has increased by twenty times since 2010 based on a figure disclosed by a private company. They believe it is due to the weakening yen as well as expectations influenced by the 2020 Tokyo Olympic Games.

Source : Japan Real Estate Institute　　

Office rents in Tokyo are also looking quite affordable in the international market. The price index as of April 1^st for office rent in Hong Kong and London are equivalent to 185.2 and 151.5 respectively while the same in Tokyo is 100.

Office rents in Tokyo, London, New York, and Hong Kong all declined after the Lehman shock. They have all begun to recover upwards, except for Japan, where the upturn trend of recovery is quite slow.

Exterior of First Real Tower Shinjuku

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First Real Tower Shinjuku

Located an 8-min walk from Shinjuku Station is a large-scale tower apartment which stands along Otakibashi-dori Street and overlooks the hustle and bustle of the downtown Shinjuku. It comes with Sky Lounge on the top floor, concierge service, and various shared facilities such as meeting room, music room, fitness gym, laundromat, and public bath with a spacious changing area and a sauna room (some are pay facilities). Double security system by vein authentication. Having a pet animal and playing musical instruments are allowed (need to follow the detailed rules).

JPY 42,500,000 - 179,800,000

Exterior of La Piazza Azabujuban

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La Piazza Azabujuban

La Piazza Azabu Juban was completed in February 2003. It is a 12-storey reinforced concrete building with a total of 60 units. It is located just a short walk from Azabu Juban Shopping Street, which is lined with shops and restaurants that suit a variety of lifestyles. The surrounding area is a mix of apartments, shops, and office buildings, but it is quiet and peaceful, tucked away from the main road and close to Amashiro Park. Within a walking distance, you can reach Roppongi Hills, and the areas of Hiroo and Azabudai Hills are also within easy reach. The building is conveniently located just a 2-minute walk from the Azabu-Juban Station on the Tokyo Metro Nanboku Line and a 4-minute walk from the Azabu-Juban Station on the Toei Oedo Line, making it ideal for commuting or attending school.

JPY 39,500,000

Exterior of BRANZ ROPPONGI THE RESIDENCE

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BRANZ ROPPONGI THE RESIDENCE

Built in the hill top location close to Tokyo Midtown, away from the hustle and bustle of Roppongi, blessed with lush greenery of neighboring Hinokicho Park. Symbolic looking building appearance created by fusing advanced and traditional design. Coming with 24 hours concierge service, various shared facilities with artistic atmosphere, well-considered unit room design and arrangement having functional beauty and practicality.

JPY 990,000,000

Exterior of Sage Akasaka

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Sage Akasaka

2 min. walk from “Akasaka” station on Chiyoda line 7 min. walk from “Tameike-sanno” station on Nanboku line 10 min. walk from “Akasaka-mitsuke” station on Marunouchi line and Ginza line 10 min. walk from “Kokkai-gijidomae” station on Chiyoda and Marunouchi line Good access to 4 stations and 4 train lines.

JPY 108,000,000

Exterior of Green Park Harajuku

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Green Park Harajuku

Green Park Harajuku is a 5-story reinforced concrete building with 2 basement floors, built in June 1977, with a total of 8 units, located in Sendagaya 3-chome, Shibuya-ku, Tokyo. It is a 7-minute walk from Harajuku Station on the JR Yamanote Line, a 4-minute walk from Kitasando Station on the Tokyo Metro Fukutoshin Line, and an 8-minute walk from Meijijingumae Station on the Tokyo Metro Chiyoda Line, making it an attractive property with good transportation access. This low-rise vintage apartment is located in a quiet residential area while being within walking distance of the cutting edge of fashion in Harajuku and Omotesando. Seven-Eleven Harajuku Gaien Store is about 210m away, Sendaya Nakayoshien Kindergarten is about 270m away, Shibuya Ward Sendaya Elementary School is about 300m away, Meiji Jingu Shrine is about 1.2km away, and many other convenience stores and coffee shops are scattered throughout the area.

JPY 110,000,000

Exterior of La Vogue Minamiaoyama

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La Vogue Minamiaoyama

Lavogue Minami Aoyama was built in October 2003 by Sampei Construction Co, and formally developed by PROPERST Co. The building is an 11-minute walk from Omotesando Station on the Tokyo Metro Ginza, Chiyoda and Hanzomon Lines. The property is located in Minami Aoyama 6-chome, within living distance of the popular Omotesando, Roppongi and Nishi-Azabu areas. The building is a 13-storey steel-framed reinforced concrete building with a total of 58 units, an auto-lock system and delivery boxes, and pets are allowed (subject to detailed regulations).

JPY 76,000,000

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