Friday, January 21, 2011

Is Tokyo Real Estate Back? Is Japan Relocation On The Way Back?

Condominiums put up for sale in the capital and surrounding region grew 22% in 2010, indicating that the real estate industry might be on the way out of a 6 year stint of falling prices.

You can read further here;
http://blogs.wsj.com/japanrealtime/2011/01/19/tokyo-real-estate-back-and-bubbling/

In the rental housing market in Tokyo, while things are better, it is still possible to obtain 10- 20% discounts on listed prices. There is still an abundance of availability, but we are seeing things moving much faster in 2011 than tha later months of October, November and December 2010.

There is a vibe coming into this year that wasn't there in 2010. Things are generally moving in a faster pace in 2011 from what I feel.

In our relocation sphere, there is still a net flow out of Japan, but I feel the net number is decreasing in Tokyo. Hopefully, by the end of 2011 we will see the net flow change into Japan, which should see a firming up of rental housing prices in Tokyo.

For Nagoya and Osaka, the cycle is still 6-12 months behind Tokyo, so a positive improvement in Tokyo in 2011 will no doubt see a chain reaction in the other main centers in 2012.

There is still a long way to go, but I like the feel of 2011!!

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