Based on a recent article in the Nikkei Shimbun the real estate market in Tokyo looks bright again. Especially after the earthquake last year with the fear of a potential Tsunami living too close to the Ocean was a big No-No or then with the observed soil liquefaction overall prices of real estate was dropping in Tokyo. Now it seems condominium demand is rising in some regional cities throughout Japan and the situation looks better along Tokyo’s waterfront. Since January of this year, based on the most recent reports prices even rose for the first time in a year in one of the affected neighborhoods: Toyosu. According to Nikkei Shimbun a total of 1,819 condo units went on sale in greater Tokyo in January, up 32.6% on the year. The contract rate was 71.1%, above the boom-or-bust line of 70% for the fifth consecutive month. There seems to be light at the end of the tunnel.
At the same time I have to say, I am truly happy about the good news, but I am getting tired of the huge pile of flyers that I get at home each Friday. All the flyers below seem to show me some reason on why I really need to buy a home or at least a condominium now.
Considering the typical length of a banking loan for real estate for 30 years and the rather low return, if you have no choice but need to sell a “second-hand” home, it still seems to risky for me personally. Simply, because so far I have never lived longer than 8 years in the same home. I guess I will be recycling this kind of flyers for quite a while to come. Or do you know any good use of the high gloss paper?
Brought to you by Sibylle Ito (伊藤シビル)