Chinese Investors Shift Focus to Residential Property

Feb 14, 2024 | News On Japan

TOKYO - The purpose behind Chinese purchases of Japanese real estate is evolving. We delved into the phenomenon of Chinese wealthy individuals buying up condominiums for residential purposes.

From "Pilgrimage" Crowds to Proposals at Mount Fuji

During the Chinese New Year, many Chinese tourists visit Japan, including Kamakura's crossing, made famous by the anime "Slam Dunk." The site has become a "pilgrimage" spot for Chinese tourists.

One couple, traveling in Japan for the Chinese New Year, got engaged at the foot of Mount Fuji, inspired by a famous Chinese song about the iconic mountain.

Purchasing a ¥160 Million Condo for Residence, Not Investment

In this era of unique personal travel, we encountered Mr. Li, a Shanghai-based e-commerce entrepreneur, who came to Tokyo with his family to look for a luxury condo. They quickly decided on a 2LDK, 72 square meter condo priced at ¥160 million, finding it reasonably priced and conveniently located near JR Suidobashi Station.

Contrary to expectations of investment-driven purchases, Mr. Li bought the condo for residential purposes, planning to split his time between Shanghai and Tokyo. He is also considering obtaining permanent residency in Japan and potentially relocating his business to the country.

"I Want to Live in Japan" - Attracted by Stability

Similarly, Ms. Shi, a Hong Kong-based investment consultant originally from Shanghai, purchased a 3LDK, 92 square meter condo in Nishi-Shinjuku for ¥180 million. Fluent in Japanese from her student days in Japan, she plans to eventually return and live in Japan, attracted by the country's economic and social stability.

The Trend of Buying for Residency Accelerates in Recent Years

The real estate company YAK in Ueno, Tokyo, which facilitated these transactions, reports that 80% of its clients are foreigners, predominantly Chinese. The trend of Chinese individuals buying condos in Japan for residency purposes has accelerated in recent years.

Professor Tomoko Ako from the University of Tokyo explains that the uncertain economic situation in China and concerns about the future of national governance are driving wealthy Chinese to establish bases outside China, not just for investment but for personal use in case of emergencies.

Source: ANN

Four Dead and Six Missing As Typhoon No. 25 Moves Away

Typhoon No. 25 had left four people dead and six others missing in Chiba and Kanagawa prefectures by September 22, as the storm moved away from Japan and the extent of flooding and landslide damage across the Kanto region became clearer.

Typhoon No. 25 Continues to Disrupt Transportation

Transport disruption from Typhoon No. 25 continued across Chiba Prefecture on September 22 even as flights and major highways returned toward normal, with entire sections of the JR network remaining suspended for the day and all Narita Express services canceled because of flooding, landslides and damage to railway infrastructure.

Japan Pushes India to Final Ball in Historic Sano Cricket Match

Japan came within two runs of producing one of international cricket's biggest upsets on September 22, pushing reigning T20 world champion India to the final ball before losing a rain-shortened match at Sano International Cricket Ground in Tochigi Prefecture.

Japan Secures More Medals as Asian Games Day 4 Intensifies

Japan's Asian Games campaign continued across a packed Day 4 schedule on September 22, with the women's badminton team securing another medal, the women's basketball team completing an unbeaten group stage, and Japan adding a historic bronze medal in mixed air rifle shooting as several of the host nation's biggest medal opportunities moved into the evening.

Japan Takes 12 Medals on Asian Games Day 3

Japan collected another 12 medals on Day 3 of the Aichi-Nagoya Asian Games on September 21, with 17-year-old swimmer Shin Ohashi and karateka Kakeru Nishiyama winning gold, while the host nation also advanced strongly in women's volleyball, baseball, soccer, handball and hockey.

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