Japanese Land Prices Rise Again
Official confirmation this week from the Nikkei Asian Review that land prices have risen for the fourth year in a row. And as we often comment, tourism has been playing a major role in the rise.
Predictably Hokkaido and Okinawa saw increases, two of Japan’s most popular tourist destinations. The rises here make these areas Japanese fastest growing real estate markets.
The article says that Tokyo, Nagoya and Osaka saw 5.1% growth, the greatest growth since 2008.
According to the article, the flow of foreign investment has slowed. Whilst that may be true in general throughout Japan here at JPI we do not see any let up in the demand for property in Japan. We still receive the same amount of requests from all over the globe.
One area of real estate seeing a slight dip is new apartments in the Tokyo area which fell 6.7% last month. We always advise our investors to look away from Tokyo. It’s natural to look to the capital for investments, we get that. But JPI will always look for deals with the best cash flow to maximise returns. So join us in Kobe and Osaka to “Invest Together, Grow Together”.
Here’s the full article from our friends over at the Nikkei Asian Review.