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Japanese Property - Lessons from the Long Correction

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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.

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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.

 

hong-kong-high-rise-apartment-sofat-lounge.jpg

 

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)

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