Business Jul 21, 2023
Tokyo's new condo prices surge 60% to a record in first half of year
The average price of a new apartment in central Tokyo jumped 60% to ¥129.6 million ($930,000) in the January to June period.
The average price of a new apartment in central Tokyo jumped 60% to ¥129.6 million ($930,000) in the January to June period.
Under growing scrutiny, companies are turning to investment funds, banks and other financial firms to find people who can better communicate corporate strategy and capital allocation.
Gaw, which already manages $3.8 billion of property assets in Japan, has just begun its search in Kyushu.
Historically, the city has recorded vacancy rates in the low single digits, but the market may be settling into a new normal of higher levels considering the change in work trends.
The French investment bank hired Yuichi Akai to expand its Japan business and grow its team in the country.
Observers say a combination of low rates, the weak yen and market stability has made Japanese real estate attractive for global investors amid pervasive economic uncertainty.
Regulators and industry heads have been quick to say Japan’s financial system is sound, while analysts have been busy reassuring worried bank investors.
The company Ito founded was the predecessor to Seven & I Holdings, operator of more than 83,000 7-Elevens dotting the globe, with about a fourth of them in Japan.
A group of 15 subcontracted drivers in the city of Nagasaki is protesting the long hours and excessive number of deliveries in the absence of overtime pay.
Chinese diplomats in Washington have been in contact with U.S. counterparts asking for granular details on the sanctions in an apparent bid for compliance.