Tokyo’s apartment prices and office rents saw the highest rise globally in October 2024, with office rents reaching a 9-year high.
1Capital Region Tiger ★.Nov. 29, 2024 (Fri) 19:50:36.17ID:shuMyNdC9
Tokyo’s rate of increase in new apartment prices and office rents through October 2024 was the highest among the 15 major cities around the world. Office rents rose 1.3% compared to six months ago, making it the top spot for the first time in nine years. This is because there has been active relocation and expansion, leading to falling vacancy rates. Rents have stagnated noticeably in Europe, the United States and Southeast Asia, while in China rents are falling at an accelerating rate. Tokyo’s recovery is notable. For the full article, see the source. 29 November 2024 14:00 (Updated 29 November 2024 16:30) [Members-only article].
The reason prices are so high in Japan right now is because the US and Europe have been providing too many subsidies to combat the coronavirus pandemic, leading to abnormal inflation that is now spreading to Japan. Inflation cannot be stopped by Japan alone because it is caused by factors outside of Japan. As a major importing country, prices in Japan will be dragged down by import prices and will eventually converge to a single point (similar to prices in Europe and the US), but the only way to get there is to approach it from above or from below. Japan has been in a state of deflation, which has kept price increases more subdued than in Europe and the US, but the overall rate of price increase has not yet reached those of Europe and the US. The reason why the yen is weak now is because America is raising interest rates to stave off inflation in the country, and the dollar is being bought in response to the higher interest rates. If inflation in the United States subsides, the United States will also begin to lower interest rates, and the weak yen will be resolved. If deflationary Japan were to raise interest rates, it would suffer the double whammy of a recession caused by slowing consumption and rising prices. >>1.
>>3 It’s just a nuisance for the people who live there! Everyone is either being kicked out to Kanagawa or Saitama, or paying extra money to the Chinese owner to live in the apartment! Me too!
Maybe having a long commute is a good thing because it gives me time to read. When I moved back to the countryside and started living in a car-oriented society, I stopped reading.
Rich Chinese people don’t invest in Japan. Except for places like Niseko where they can make a short-term profit. If they have money, they should go to Dubai.
>>23 I heard that gasoline subsidies will be reduced from December onwards, but I’m worried about whether this will be okay and I can’t sleep at night.
It’s only natural for Japanese people who are devoted to Shakyamuni in body and soul. Shakyamuni is India, Buddha is China, and Japan is the Great Buddha. In essence, it’s the relationship between grandfather, father, and son.
This will exacerbate the declining birthrate that was already a problem in Taiwan and Australia over 10 years ago when Chinese money flowed into the urban real estate markets.
People can be broadly divided into memory types and thinking types. Foreigner: “It’s cheap, cheap. If you buy it, you make a profit!!” Japanese: “It’s expensive. If I buy it I’ll be in trouble!”
As expected, condominiums are obsolete, and from now on, the life plan of us v-speeders, who save as much money as we can while we’re still working, retire early in our 50s, get the full amount of our bonus pension, build a prefab on a large, cheap plot of land, and live a leisurely, comfortable life in a low-cost, isolated house, fishing, playing games, and stargazing, has been proven once again to be the best and most optimal choice in Japan, where annual incomes have not increased at all, lifetime employment and seniority have disappeared, and the country has become an empire of increasing taxes…
>>37 I don’t think there are many people who want to do that. It’s especially tough for people who grew up in the city and have always lived in apartment complexes and condominiums. There are bugs, snakes, and vermin, and mowing the grass is hard work. People who haven’t done that can’t imagine the effort and physical energy required to manage the outside.
They are desperately trying to advertise condominiums in the media and online rather than detached houses, but with prices soaring, they’re not going to sell.
Tokyo’s GDP and per capita GDP will increase dramatically, meaning that Japan’s urban structure will change and grow Cities will be run by wealthy foreigners, investors, elite entrepreneurs, etc., and will no longer need “existing groups of working families” It’s not that different from the transition from agriculture to manufacturing to industry.
Comments