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

Osaka’s Minami Rebuilt Into Tourist Hub

Osaka’s Minami district, now entering another period of major change with the planned opening of the Naniwasuji Line, the redevelopment of Midosuji and improvements around Nankai Namba Station, has transformed from an area once described as "scary" and "dirty" into one of Japan’s leading tourist destinations.

Crowds Join First Pull of 10-Ton Gion Festival Float

A 10-ton hoko float was pulled through central Kyoto on July 12 in a trial run ahead of the Yamahoko Junko procession during the Gion Festival's early parade.

Young Doctors Flock to Cosmetic Medicine

A growing number of young doctors in Japan are moving directly into cosmetic medicine after obtaining a medical license and completing their initial clinical training, raising concern that the trend may be worsening staff shortages in insurance-covered medical care.

Typhoon No. 9 Travel Disruptions Continue on Some Okinawa Routes

Transport disruption from Typhoon No. 9 (Bavi) continued on July 12, with airlines warning that some flights serving Okinawa’s outlying islands could still face delays, cancellations or conditional operations even after the storm moved away from the prefecture.

JAXA Successfully Lands Reusable Rocket Test Vehicle

JAXA successfully landed a small experimental vehicle for a reusable rocket on July 11, marking a step toward technology that could increase the frequency of space launches while helping reduce costs.

MEDIA CHANNELS

MORE Business NEWS

This Is the Pension After 40 Years at a Company

A 65-year-old man who spent 40 years working for a company was shocked to learn that his pension would amount to 168,000 yen a month, raising fresh concern over whether retirees in Japan can live on public pension payments alone.

Small Supermarkets Surge as Shoppers Seek Lower Prices

Small supermarkets offering lower prices than convenience stores and closer access than full-size supermarkets are expanding rapidly across the Tokyo metropolitan area, as retailers race to meet demand from older consumers, single-person households and shoppers under pressure from rising prices.

One of Japan’s Largest Stag Beetles Goes on Sale in Kyoto

A welfare facility in Fukuchiyama, Kyoto Prefecture, has begun preparations to sell about 220 giant stag beetles, one of Japan’s largest species, from July 13.

Docomo Bank to Begin Services in August, Aiming for 1,500 Branches

NTT Docomo will begin offering banking services under the new "Docomo Bank" brand in August, with plans to build a network of more than 1,500 locations by fiscal 2030, far exceeding the branch networks of Japan's major banks.

Nikkei Extends Rally With 813-Point Gain as AI Stocks Lead Market Higher

Japanese stocks rose for a second straight session on Friday, July 10, with the Nikkei Stock Average climbing 813.88 points to close at 68,557.73 after strong gains in U.S. technology and semiconductor stocks fueled renewed buying of AI-related shares.