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Japanese Property - Lessons from the Long Correction


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#121 Jake

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Posted 11 March 2011 - 02:49 PM

<b>Mainlanders ride to the rescue in Tokyo - says SCMP</b>

Increasing interest from Chinese is giving new hope to the Japanese property market
SUMMARY:
+ Purchases by mainland Chinese is growing - & Japan is regarded as "safe and stable"
+ A property worth Yen 2 billion in 1997, is now priced at about Yen 200mn
+ Most expensive properties have dropped the most, and are cheaper than HK
+ Rental yields of 5-10% are possible
+ Most common ares for purchase: Tokyo and Hokkaido

http://search.japantimes.co.jp/cgi-bin/nn20110309f1.html

Is this bullish or bearish?

''Marcy Zhang, general manager of Crispins Property Consultancy in Shanghai, which is promoting property in Hokkaido, said most of her clients are wealthy Chinese who want getaway places overseas''
"We are reaping what has been sown over the last three decades of creating a grotesquely unequal society with an ethos of grab as much as you can by any means. A society of looters created by MPs and their expenses, bankers and their bonuses, tax-evading corporations, hacking journalists, bribe-taking police officers, and now a group of alienated kids are seizing their chance. This is not to condone but to understand." - John McDonnell MP


"Things got a bit out of hand & we'd had a few drinks. We smashed the place up and Boris set fire to the toilets."
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#122 Jake

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Posted 11 March 2011 - 11:45 PM

http://search.japantimes.co.jp/cgi-bin/nn20110309f1.html

Is this bullish or bearish?

''Marcy Zhang, general manager of Crispins Property Consultancy in Shanghai, which is promoting property in Hokkaido, said most of her clients are wealthy Chinese who want getaway places overseas''



Chinese snap up Tokyo apartments-at least until yesterday. Maybe they'll think twice now.

http://search.japant...20110312f1.html
"We are reaping what has been sown over the last three decades of creating a grotesquely unequal society with an ethos of grab as much as you can by any means. A society of looters created by MPs and their expenses, bankers and their bonuses, tax-evading corporations, hacking journalists, bribe-taking police officers, and now a group of alienated kids are seizing their chance. This is not to condone but to understand." - John McDonnell MP


"Things got a bit out of hand & we'd had a few drinks. We smashed the place up and Boris set fire to the toilets."
David Cameron, 7th June 1986.

#123 Jake

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Posted 14 March 2011 - 12:33 PM

Also bump here. I keep losing this thread so...
"We are reaping what has been sown over the last three decades of creating a grotesquely unequal society with an ethos of grab as much as you can by any means. A society of looters created by MPs and their expenses, bankers and their bonuses, tax-evading corporations, hacking journalists, bribe-taking police officers, and now a group of alienated kids are seizing their chance. This is not to condone but to understand." - John McDonnell MP


"Things got a bit out of hand & we'd had a few drinks. We smashed the place up and Boris set fire to the toilets."
David Cameron, 7th June 1986.

#124 DrBubb

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Posted 03 August 2011 - 07:04 AM

... from the Main UK property thread - relevant here too...

I think the great downsizing has already started, (even in Japan). I was reading that by 2030-50 there will be more single dwelling households than family dwelling here. Go figure :huh:

But bigger houses don't 'have to' mean married to consumer junk. You could have a larger family (against the trend) or you could be an extended family (on the increase)/community of like minds etc etc. Or you might have a buisness going, or be a smallholding/farm.
I am sure the smaller walkable homes thing will gain traction (esp with YOUR oil forecasts), in fact it already is/aspirations are. But life may get difficult in (parts of) the cities.
Knowing what you want. This is a tricky one and a difficult act to balance.
BTW can you start a thread tracking US walkable community house prices. Are they buccking the trend? I expect so. I'd also be interested in seeing some of these 100 oz US homes. Where and what are they like?
I found an interesting Japan foreclosed/real estate link btw...but I wouldn't even go to Tokyo at the moment, let alone buy. But that's just me. They just felt the 6.4 quake yesterday. And I don't think that is near over. Plus radiation/contamination, food sources all from Tohoku, all contaminated. But you may see that as a buying opportunity, blood on the streets kind of thing.
All the best! J.

Very good info here and links. Chris Dillon is mentioned. How is he?

http://www.facebook....RealEstateJapan

A Walkable Community Property Price Index for the US ?
That's an interesting idea - I suppose one could compare the Most Walkable with Least Walkable communities

I agree. I should make sense to stay away from Tokyo, and and maybe focus your life on the "most stable" parts of Japan, which may be to the North and to the West, I suppose. Have you found a map for Japan for the Post upheaval period, as may be produced by various psychics?

I haven't spoken with Chris recently, but I see that "Christopher Dillon" gives a thumbs up on that Facebook page you linked too. Perhaps you should be-friend him on Facebook, and pass on my regards. Then you might introduce yourself as a GEI member.
The market is "bipolar", swinging back and forth from a focus on Inflation to Deflation. Bet on swings; and stay flexible. What are bipolar markets? See: http://tinyurl.com/GEI-Manix

#125 PositiveDeviant

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Posted 13 July 2012 - 10:31 PM

Daily Telegraph

"Japan apartment 'most expensive in the world'

world is on sale in Tokyo with a price tag of a cool Y1.8 billion (£14.72 million).
Posted ImageHouse


Minami-Azabu is in west Tokyo and is being sold by Japan Sotheby's International Realty

By Julian Ryall in Tokyo

7:32PM BST 13 Jul 2012

Posted Image1 Comment

The House Minami-Azabu is spread over more than 4,430 square feet of a condominium building in the Minami-Azabu district of west Tokyo and is being sold by Japan Sotheby's International Realty. The price means that 1 square foot of the property costs £3,320.33.

The owner of the penthouse apartment – whom Sotheby's would only identify as a successful and married businessman – spent 18 months completely refurbishing the property from a four-bedroom family home.

Stone and wood imported from Italy has been used for the walls, flooring and doors, a Japanese "ryotei"-style dining room is designed specifically for dinner parties where the chef can serve guests directly from the kitchen.

A separate "casual" dining room has a Parisian-style terrace overlooking the neighbouring park. The bedroom includes an expansive walk-in closet, while the bathroom incorporates a hot-tub and a 60-inch television.

The storage for shoes in the entrance has space to accommodate 200 pairs of shoes, but the focal point of the property is the courtyard with a surrounding lounge area where guests can "enjoy the charming seasonal garden".


"We have been quite surprised at the interest that has been shown in the property so far," Mika Takemura, of Sotheby's, told The Daily Telegraph.

"We did not think we would get many inquiries at that price or with only one bedroom, but there have been several couples who have inquired about it," she said, adding that international businessmen who have to spend a couple of months in Tokyo every year have also expressed interest.

The company will not name the interested parties but Takemura said that they include "famous people in the business world".

The owner of the property is also selling off two more exclusive properties. A three-bedroom family home on the beach at Hayama, 90 minutes south of Tokyo and the summer residence of the Imperial Family, is on sale for Y1.3 billion (£10.63 million), while a vacation home in the mountain resort of Karuizawa is on the market for Y550 million (£4.5 million).

Takemura said the price of the Minami-Azabu and Hayama properties are negotiable if they are purchased together.

In contrast, a town on the most northerly Japanese island of Hokkaido is selling plots of land for pocket change.

The local authority of Yuni is selling 1 square meter (10.76 square feet) of building land for just Y120 (98p). In Tokyo, the same piece of land goes for an average of Y309,000 (£2,527).

The town, which is famous for Japan's largest herb garden and hot springs, has a population of 5,900 but that figure is being whittled away by around 100 people every year. Officials said they have had around 170 enquiries from prospective purchasers."



The ying and yang in Japan.

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#126 Jake

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Posted 25 July 2012 - 03:27 AM

In contrast, a town on the most northerly Japanese island of Hokkaido is selling plots of land for pocket change.

The local authority of Yuni is selling 1 square meter (10.76 square feet) of building land for just Y120 (98p). In Tokyo, the same piece of land goes for an average of Y309,000 (2,527).

The town, which is famous for Japan's largest herb garden and hot springs, has a population of 5,900 but that figure is being whittled away by around 100 people every year. Officials said they have had around 170 enquiries from prospective purchasers."



The ying and yang in Japan.

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The conditions are you have 100 Tsubo of land for 40,000 yen but you must make a house on it AND LIVE THERE within 3 years. The land belongs to the town and they are trying everything to keep the population from sinking. Local, private land goes for 6,500 yen per tsubo so I guess private sellers must be a tad pissed off, to say the least. 100 tsubo is a large plot. However 5-6 months of the year the land is permafrost...though Hokkaido does have subsidised heating oil (kerosene) for now at least. Generally the moves (and births) are happening to the milder south and west of Japan, far away from the colder and contaminated north.
My own feeling is with a liquid fuel energy crisis on the horizon Hokkaido and the north is going to return to the sustainable numbers that lived their 150 years ago...so it has to be a big 'no no'. People will freeze/starve to death unless they are used to the 'Call to the wild'. Hokkaido is like Cananda/Alaska for those that dont know. Bears, snow, mountains, beauty and national parks. Its nice, if you like real winters.
"We are reaping what has been sown over the last three decades of creating a grotesquely unequal society with an ethos of grab as much as you can by any means. A society of looters created by MPs and their expenses, bankers and their bonuses, tax-evading corporations, hacking journalists, bribe-taking police officers, and now a group of alienated kids are seizing their chance. This is not to condone but to understand." - John McDonnell MP


"Things got a bit out of hand & we'd had a few drinks. We smashed the place up and Boris set fire to the toilets."
David Cameron, 7th June 1986.

#127 DrBubb

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Posted 03 November 2012 - 02:46 AM

Y1.8 billion (£14.72 million) - Most expensive Flat ?

I do wonder.
At HK$13 / GBP, that's: 14.72 x $13 = HK$ 191 million
1 square foot of the property costs £3,320.33 (x13= HK$43,160 )

Most expensive flat in HK is said to be : HK$439 million (US$9,200 psf = HK$71,300 psf)
On the "68th floor" of a 46-storey building, at 39 Conduit road on HK Island.


Posted Image

There's a penthouse in the building next to me that sold for HK$42,800 psf, that's US$5,522 per sf, said to be the amongst the "most expensive flats in HK" when it was sold - and perhaps the same price psf as for that Tokyo flat.
(I can look DOWN on it from my window - haha)

The market is "bipolar", swinging back and forth from a focus on Inflation to Deflation. Bet on swings; and stay flexible. What are bipolar markets? See: http://tinyurl.com/GEI-Manix




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