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Ministry of Land, Infrastructure and Transport corporate with Waseda University and others, developed constant-quality house price indices for Japan. (Japanese version Case-Shiller index)

 
They utilized market data of secondhand condominiums and referred America’s representative house price indices,
“S&P Case-Shiller Home Price Indices” as well.

These are first home price indices which extensively collected actual market prices in Japan. They are trying to tentatively send these indices to Tokyo Stock Exchange and Osaka Securities Exchange within the year.

 
Their aims are providing better transparency to activate the market. Waseda University indexed market prices and rents of secondhand condominiums for the past ten years, which were provided by Real Estate Information Network For East Japan.

Relatively, there are more transactions dealings on condominiums than houses therefore they reflect the fluctuation of house prices more accurately.

Provided by Nikkei News Paper on Oct 15th

Dear international investors,

I went to survey a retail space in a 7-story building by JR Harajuku station.    The building is 50 meters north of popular and populas Takeshita Exit of the JR station from which the Takeshita Street streches eastward. 

a commercial building in Harajuku

Takeshita Street is probably the most popular and populas commercial street in Japan.  It is particulary popular among teen agers.    Because it is so crowded with young people, when you go to Takeshita Street and see those people, you can not help but wonder whether or not they should go to school.    The street is bustling with trendy fashion boutiques and restaurants and paralles Omotesando which is also globally famous and is crowded with the world’s first-class fashion boutiques.

Takeshita Street

So many Japanese and international companies want to have their boutique or restaurant in Harajuku not only because profit is a surety but also their shop will be seen and recognized by so many people including international tourists. 

I surveyed rental space in a building a minute-walk from Takeshita Street.  Its specs are as follows:

Structure: SRC / 7 stories

Built in: 1993

Floor area: approximately 40 sq. meters

Monthly Rent: 336,000 yen

a vacant shop in Harajuku

As soon as I arrived, I felt very positive about the location.   It made me feel like having my own coffee shop in the building.   There was a long line of people in front of a ramen shop on 1st floor of the building when I went there.  I take it that the shop is good.

Greenery of Meijijingu is visible from a vacant shop in Harajuku

Dear International Investors,

First comes, first served.

A bargain property (an apartment building) has just come out on market.   My co-w0rkers and I agree to each other that it is a very good investment opportunity in many respects – quality, potentiality, location, and price.  Please feel free to contact us, if you are interested in it.  We don’t want you to miss out with a good investment opportunity with promising real estate in Tokyo.  Its specs are as follows:

Type: apartment building

Price: 480,000,000 yen

Location: 4, Akasaka, Minato-ku, Tokyo (6-min walk to Akasaka station (Tokyo Metro Marunouchi Line))

Land: 401.26 sq. meters

Floor area: 1,001.83 sq. meters

Structure: RC / 4 stories + 2 stories underground

Built in: 2002

Coverage: 60%

FAR: 300%

Annual Income (at operation rate of 100%): 3,617,000 yen/month

Yield: 9%

a bargain property in Akasaka

a bargain property in Akasaka 2

The bargain property is in Akasaka which is known for the world’s first-class restaurants, famous companies, and show business.  In fact, there are so many international restaurants in Akasaka which are doing a fantastic job in entertaining not only domestic celebrities but also international ones.  Also, Akasaka is always bustling with businesses. 

The apartment will provide you excellent access to work and entertainments, including those in Roppongi and Harajuku, because Akasaka is conveniently connected to many places of Tokyo with Tokyo Metro Marunouchi Line and Ginza Line.  You may think that Akasaka is grey and dark with concrete buildings.  But it actually has much greenery and nice parks.

We hope you will consider it for investment.  We are looking forward to the opportunity to serve to you.

a bargain property in Akasaka 3

Dear International Investors,

I went to survey a high-yield apartment building in Mitaka City which is a growing, popular satellite city west of Tokyo.

Its specs are as follows:

Type: apartment building for investment

Price: 208,000,000 yen

Annual Income: 25,080,000 yen

Yield: 12.05%

Location: Mure, Mitaka City, Tokyo (15-min walk to Mitakadai station (Keio Inokashira Line))

Land: 436.51 sq. meters

Floor area: 723.45 sq. meters

Structure: steel / 4 stories

Coverage: 60%

FAR: 200%

Current operation rate: 100% or 23/23

apartment building for investment in Mitaka

apartment building in Mitaka 2

apartment building for investment in Mitaka 3

Unlike the center of Tokyo where open field and space is scarce, there is plenty of openness in Mitaka and surrounding cities, such as, Musashino City, Chofu City, and Fuchu City.  Agricultural land and greenery are common in these new cities.   Mitaka and other suburban cities west of Tokyo are largely residential and still growing in population mainly because of their desirable environments for residence.   Also, there are many famous private and public universities and colleges in this part of Tokyo. 

Mitaka is conveniently connected to Shinjuku, Tokyo, and other major JR stations in Tokyo by JR Chuo Line.  It is about 30 mins from Tokyo to Mitaka.    Kichijoji of Musashino City is adjacent to Mitaka City.  It has been the most popular town among Japanese families in Tokyo for many years. 

neighborhood

view from building

Dear International Investors,

Today, I went out to survey investment properties in Chiyoda-ku and Bunkyo-ku.   Their specifications are as follows:

– a secondhand building for investment

Location: 1, Kanda-ogawacho, Chiyoda-ku (1-min walk from Awajicho station of Tokyo Metro Marunouchi Line)

Price: 79,800,000 yen

Land: 45.25 sq. meters

Floor area: 217.31 sq. meters

Structure: RC / 5 stories above ground + 1 story underground

Coverage: 80%

FAR: 800%

Built in: 1970

Annual Income: 3,132,000 yen

Yield: 6.28 %

Features:  Proximity to a Tokyo’s major street, good foot traffic from colleges and universities in the neighborhood

a building for sale in Chiyoda-ku

a building for sale in Chiyoda-ku 2

a building for sale in Chiyoda-ku

neighborhood

– a secondhand building for investment

Location: 3, Otsuka, Bunkyo-ku (8-min walk from Miyogadani station of Tokyo Metro Marunouchi Line)

Price: 59,800,000 yen

Land: 42.04 sq. meters

Floor area: 201.87  sq. meters

Structure: RC / 5 stories above ground + 1 story underground

Coverage: 80%

FAR: 500%

Built in: 1991

Features:  On a Tokyo’s major street, a famous educational district

a building for sale in Bunkyo-ku 2

Seen from afar

Seen from afar 2

– a secondhand apartment building for investment

Location: 3, Kohinata, Bunkyo-ku (6-min walk from Miyogadani station of Tokyo Metro Marunouchi Line)

Price: 45,800,000 yen

Land: 67.43 sq. meters

Floor area: 53.8 sq. meters

Structure: Wooden / 2 stories

Coverage: 60%

FAR: 200%

Built in: 1987

Features:  A famous educational district, proximity to famous universities and colleges, a very quiet residential neighborhood

a secondhand apartment building for investment

a secondhand apartment building for investment 2

a secondhand apartment building for investment 3

a secondhand apartment building for investment 4

Bunkyo-ku has proximity to greenery

Dear International Investors,

I surveyed a new apartment building in Ojima in Koto-ku on the other day. 

 Its specifications are as follows:

Price: 130,000,000 yen

Location: 8, Ojima, Koto-ku, Tokyo (8-min walk to Higashiojima station of Metro Shinjuku Line)

Land: 193.27 sq. meters

Floor Area: 228.64 sq meters

Built in: 2008

Coverage: 60%

FAR: 240%

Structure: Wooden (coated with galvanized steel sheet)

 Annual Income: 9,084,000 yen

Yield: approx. 6.98%

Seen from outside

seen from outside 2

seen from outside 3

The building is attractive for investment because it is new.  Currently, it is fully occupied.  But one should bear in mind that its value may not be so high as it looks because it is basically wood.   Also, the neighborhood is residential and quiet with almost all of the apartment buildings there being lower than 5 stories.   There is a vibrant shopping street along Shinohashi street which is about 5-min walk from the building.

a local shopping district

 Koto-ku where Ojima is is an old part of Tokyo.  You should visit Koto-ku, if you are interested in old Tokyo.  Koto-ku is well connected to other areas of Tokyo by JR Sobu Line, Tokyo Metro Hanzomon Line, Tokyo Metro Tozai Line, and Tokyo Metro Shinjuku Line.  Kinshicho is particularly popular and populus with international tourists.

Shibaura Island Grove Tower

Its main features are as follows:

 Name: Shibaura Island Grove Tower

Location: 4, Shibaura, Minato-ku, Tokyo (8-min wlk to Tamachi station of JR Yamanote Line)

Type: 3 bedrooms

Floor area: 175.83 sq. meters

Balcony: 19.97 sq. meters

Structure: RC / 49 stories + 1 story underground

Built in: 2007

Monthly rent: 850,000 yen

Deposit: 2 months of rent

Key Money: 2 months of rent

Renewal Fee: 1 month of new rent

Other features: gym, kid’s room, convenience store, private park w/ barbecue corner & party room, machine parking (32,000 yen/month), and concierge service.

living room

a view from living room

 The area is in a southeast corner of Minato-ku and in-between Yamanote Line and Odaiba which is a popular commercial site with a broadcasting station and entertainments.   About 6-hectare land has been recently developed by Mitsui Real Estate, a family company of one of the largest congromerates in Japan.  The development includes three high-rise condos and one rental tower with parks and commercial facilities and is making it possible for as many as 4,000 families to live on the land.

a panoramic view

a view of a canal

a panoramic view 2

Dear International Investors,

I showed four apartments to my client on Sunday afternoon.    The following is information of one of them.

Name:  Takanawa Pair City (a unit on 6th floor)

Location: 4, Takanawa, Minato-ku, Tokyo (7-min walk to Shinagawa station)

Price: 49,800,000 yen

Floor area: 68.75 sq. meters

Structure: RC / 9 stories

Built in: 1976

Maintenance Fee: 22,070 yen/month

Repair Fund: 20,811 yen/month

Other features:  In an exclusive residential neighborhood of Shinagawa, Sunny, Quiet, Nice view

Takanawa Pair City is an apartment building with unparalled stateliness.   It is built on a 2,194-sq. meter land and is in a very quiet residential neighborhood of Shinagawa.  

Takanawa Pair City - apartment building's entrance hall

The 2-bedroom unit we saw is nice.  It is sunny and quiet and has a nice view and proximity to greenery.  But a bottleneck about the unit is that the room will probably need a major upgrade before delivery.    Wallpaper and carpet must be replaced.  And the upgrade will probably cost approximately 8,000,000 yen. 

Takanawa Pair City - Living Room

Takanawa Pair City - Living Room 2

Shinagawa is a main gate of Tokyo.  In fact, it has functioned as a check-point of the Tokaido which has been connecting Tokyo and other big cities of western Japan (e.g. Nagoya, Kyoto, and Osaka) for about 400 years.   The areas around Shinagawa station are bustling with high-rise office buildings on the station’s east and southeast sides, with the world’s first-class hotels and low-rise, high-end, and quiet residential neighborhoods on the western side.  Shinagawa is growing.  It is a promising place for investment and residence.

Dear international investors,

I surveyed a brand-new apartment building in a quiet residential neighborhood of Omorinishi in Ota-ku yesterday afternoon.  Its specs are as follows:

Price:  188,000,000 yen (12 x 7-jo studio (@approx. 90,000 yen) + 3 x parking lot(@approx. 31,500 yen))

Annual revenue (estimation): 14,094,000 yen

Yield (estimation): 7.5%

Location: 2, Omorinishi, Ota-ku, Tokyo

Station: 5-min walk to Heiwajima station (Keihinkiyuko Line)

Land: 223.71 sq. meters

Floor area: 306.82 sq. meters

Structure: Steel / 3 stories

Coverage: 60%

FAR: 200%

a brand-new investment apartment building under construction

a brand-new investment apartment building is under construction

Heiwajima  is a Keihinkiyuko Line station and is in-between Shinagawa and Haneda Air Port.   Because it is close to both Shinagawa and Haneda and rapid trains stop at the station, commercial districts around the station are bustling with small retails and shoppers although the areas are not so large. 

a commercial district at Heiwajima station

a commercial district at Heiwajima station 2

Neighborhoods are almost 100% residential with detached houses and newly-built  low-rise apartment buildings.   They are very quiet.  When I was there at around 4:30 pm, there were many bicycle riders. 

neighborhood of Heiwajima

neighborhood of Heiwajima 2

In my view, Heiwajima community looked very successful and attractive with much foot, bicycle, and auto traffic.  Also, I surveyed three local apartment buildings similar to the brand-new one in size, new-ness, and location in order to understand occupancy ratio of the neighborhood.  Unexpectedly,  the occupancy of the three apartments is high – 8/8, 13/15, and 46/60.  The last one (=46/60) may not look so good at first.  But the apartment building will be filled in due course because it is brand-new and people have just begun moving in.

a local apartment building

a local apartment building 2

Kan nana seen from a pedestrian bridge near Heiwajima station

a view of Kan nana in Omorinishi

Dear International Investors,

A bargain, new property in Shinjuku is now being sold for about 5,000,000,000 yen.  

Its specs are as follows:

Current Business: Hotel and Retails

Location: Kabukicho, Shinjuku-ku, Tokyo

Transportation: 1-min walk to Higashishinjuku station (Metro Oedo Line, 1 stop from Shinjuku)

Land: 836.52 sq. meters

Floor area: 5,317.70 sq. meters

Built in: July, 2008

Structure: RC / 13 stories

Zoning: Commercial

Coverage: 80%

FAR: 700%

Annual revenue (for 2008): approx. 445,788,000 yen

a new, bargain hotel in Shinjuku for sale

a new, bargain hotel in Shinjuku is for sale

It is promising in terms of investment.   Pros include:

–  already commercially successful with international tourists (i.e. income for 2008 is about 445,788,000 yen/year or 1,221,337 yen/day)

– conveniently located (i.e. 10-second walk to Higashishinjuku station of Metro Oedo Line (1 stop from Shinjuku))

– located in a corner of Meiji Dori and Shokuan Dori which are two major streets of the area

–  Shinjuku is and will be popular among international tourists with so many interesting spots

– an about-25,000,000-sq. meter land across the Meiji Dori is under development and will be a commercial magnet from 2011

view from Shinjuku 7-chome crossing

view from Shinjuku 7-chome crossing 2

view from Shinjuku 7-chome crossing 3

view from Shinjuku 7-chome crossing 4

An about-25,000-sq.meter land is under development and will complete in 2011.   The new commercial hub of Shinjuku will create new foot traffic and attract tourists from all over the world, and will be an additional value to the property.

map of Shinjuku

25,000-sq. meter development in Shinjuku 6-chome

25,000-sq.meter development in Shinjuku 6-chome 2

It may be a first-comes-first-served investment opportunity.  Unfortunately, the seller wants to close the deal by the end of September.  The price is negotiable.  Please feel free to contact me, if you are interested in the property or have any questions.

I am looking forward to the opportunity to serve to you.