Used condo prices in Tokyo wards jump 37 percent in Sept. from last year | NHK WORLD-JAPAN News

8 comments

1. Specifically around the condos in Tokyo, I think most people believe it’s Chinese people (not even residents) trying to park their money outside China?

   I think this is the reason why you don’t see detached single-family home prices moving quite the same way. Apparently Chinese buyers don’t think homes are quite so liquid.

2. More and more 2 tones Maybachs in Minato … same people buying cash.

3. Chinese buying them up to use them as illegal AirBnBs because the cops won’t enforce the minpaku law with stronger penalties. Harumi is basically a Chinatown now covered in Chinese tourists and illegal Alphard “taxis” everywhere because they all use Chinese apps for communication and payment to circumvent. Tale as old as time.

4. Sadly because the housing prices in a lot of east Asia countries are more expensive than Japan (due to locals driving up costs), so they’ve figured that they might as well buy a condo in a major metropolitan city.

   That then presents 2 problems IMO.. Airbnb it at 4/5* hotel prices to cover their mortgages, or hold & sell a few years later to other foreigners at 10%++ profit. Rinse repeat.

   Nikkei recently wrote that housing prices rose 37% year on year.

   Of course the rise of the Japanese stock market is playing a factor into it, people taking their gains and putting it somewhere else.

5. Well the proposed restrictions on foreign property ownership is supposed to help bring that down, no?

6. Glad I prefer houses

7. The conversation around condos has always been interesting to me since it seems to be a positive feedback loop as the conventional knowledge here is that they are easier to sell (e.g. more liquid). But if the price keeps increasing like this, will that really be true…

8. Yikes. I really hope this doesn’t contribute to an eventual housing crisis in Tokyo like Vancouver…

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