HomeTag real estate

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The GPIF, or Government Pension Investment Fund has just selected its next president, according to a spokesman on Tuesday at the Ministry of Health, Labor and Welfare. Currently, the president is Norihiro Takahashi, but from April 1 (the start of FY2020), Miyazono Masataka will become the new GPIF president. Previously, Mr. Miyazono was the president of the Pension Fund Association, Tokyo, meaning that he certainly has experience in that area. Pension Fund Association, Tokyo controls...

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The Japan Rental Housing Management Association has recently launched a “Landlord Cost And Profit Insurance (Rental Management Support) Plan” for members of the association in cooperation with Tokyo Marine Nichidō Fire Insurance Co., Ltd. In the event of an unfortunate incident such as a lonely death, suicide, or death related to a crime (e.g. murder) in rental housing (which are collectively called “jikobukken” in Japanese [事故物件]), this will cover the rent loss and restoration costs...

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First, a definition: “recruitment rent,” or (募集家賃, boshū yachin) is rent for a property currently on the market. Therefore, it excludes properties that are already being rented. For example, if there is a building with three units, and two of them have been renting out for years for ¥30,000 a month with tenants who plan to continue renting, and one of them is currently on the market, listed at the real estate agent’s office for...

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COVID-19 has wrought havoc on stock markets worldwide, having resulted in a drop of over 29% in the S&P 500 in less than a month (meanwhile, real estate investors are sitting pretty; the values of their investment property and the rents they receive have been largely unchanged). It’s getting to the point in which central banks around the world are trying to bail out the economic victims of COVID-19 (also known as “novel coronavirus”). Some...

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The Building Group announced the results of a survey on March 11, of office building market conditions in major areas of the six major metropolises (Tokyo, Nagoya, Osaka, Fukuoka, Sapporo, and Sendai) for February 2020. The survey targeted office buildings with a vacancy rate of 100 tsubo* (330.579 square meters) or more of standard floor area and office buildings with rental contracts for estimated amounts of 100 to 300 tsubo (991.736 square meters). The average...

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The Japan Housing Finance Agency announced on February 2 the applicable interest rate for the “Flat 35” (purchase type of mortgage) that would be provided by the financial institution in March. The interest rate for a borrowing period of 21 years or more (in which the buyer pays at least 10% down, with the financial institution financing the rest) now ranges from 1.240% (down 0.040% month-on-month) to 1.870% (down 0.070%). The most frequent rate offered...

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Tokyu Housing Lease Co., Ltd., jointly with Diamond Media Co., Ltd. on January 27, surveyed leasing contracts for leased condominiums nationwide in 2019 regarding lump-sum payments (security deposits, key money, and renewal fees) and published the results. Basically, shikikin (敷金) can be thought of as a “security deposit.” Often, the tenant does not get all (or even any) of it back, even if he/she took good care of the property. “Reikin” (礼金, literally “thanks money”) is...

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Now, let’s discuss a new type of Japanese real estate…a house…for hedgehogs! Hedgehogs are becoming increasingly common as pets, especially in Japan. The Japanese word for “hedgehog” is harinezumi (ハリネズミ or 針鼠, literally “needle mouse”), because their bodies are covered in sharp quills. However, when the hedgehog is calm, it’s possible to pet it; it feels like petting a hairbrush with stiff bristles. Hedgehogs love new smells, from cigarettes to turpentine, and will “anoint” themselves...

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Could this be a good time to buy Japanese investments such as Japanese real estate? With a weak yen, your US dollars, Euros (€), etc. will now buy several percent more here than they did just a month or so ago. The yen is considered a “safe haven” currency. How long will this period of cheap yen last? The dollar/yen exchange rate was even weaker on Thursday, the 20th. It rose to 112.23 yen to...