The updated price comparison of condominiums and offices in Asian countries.
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 28th that as of April 1st, 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 1st, 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 1st 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.
- Apartments and Houses for Rent in Tokyo
- Listings of popular and luxurious rental apartments, condominiums, and houses designed with expats in mind.
- Apartments and Houses for Sale in Tokyo
- Listings of apartments, condominiums, and houses available for purchase in Tokyo.
