Real Estate
Appraised Value : $1,320,000 USD
Basic Information
Type : Apartment
Location : Tokyo
County : Japan
Price : $ 1,320,000 USD
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Explanantion
After the collapse of the Japanese bubble economy in 1990, the Japanese real estate market continued to decline for almost 25 years but started to rise from April 2015. The Real Estate Price Index calculated by the Ministry of Land, Infrastructure, Transport and Tourism is shown below
The data shows that the tipping point for Residential land was April 2015 and for apartments was April 2011, and that apartment prices nearly doubled in the 14 year period from April 2010 to April 2024, but only increased by more than 7% annually on average. Residential land prices have increased by 33% since April 2015, an average increase of only 1.7% per year.
In other words, although Real estate prices in Japan have emerged from the long slump following the collapse of the bubble economy and have risen, they have risen only slightly on an annualized basis and are likely to follow a fullfledged upward trend.
Of course, Japan is currently experiencing a declining birthrate and an aging population, and the number of abandoned houses in rural areas is increasing rapidly. These houses are almost worthless, but the reason for this is that the infrastructure of electricity, water, sewage, and gas is expected to become unsustainable and unlivable in the future. In addition, railways, buses, taxis, and supermarkets are disappearing in these rural areas, and it can be said that the environment that is absolutely necessary for living is disappearing.
However, in Japan, Real estate prices are expected to rise dramatically in the
following two areas.
1) Well-maintained apartment over 60m2 in Tokyo's 23 cities
2) Accessible resort
In particular, in 1), there is a growing demand for high-rise apartments in Chuo, Minato, Meguro, Setagaya, Shibuya, and Setagaya cities in Tokyo. However, there is almost no new supply, and for this reason, there is a growing demand for Well-maintained used apartments. However, there are not many used apartments for sale, and the world, especially wealthy people and investors in China, Hong Kong, and Taiwan, say that there is a large demand for spacious apartments of 80m2 or more, but there is almost no supply.
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