Based in Central Tokyo, PLAZA Homes has been connecting people to properties and the world to Tokyo since 1969. Prioritizing their customers’ needs and satisfaction, the team at PLAZA Homes goes above and beyond to provide each and every client the information necessary to find the right property promptly and effectively. Here, Manager Kenji Kubo takes us inside the Tokyo real estate market.
Please describe your current housing market.
Kenji Kubo: While prices are generally stable at the moment, we’re seeing them rise in particular buildings. Currently, our listings have an average price range anywhere from 70,000,000 JPY to 150,000,000 JPY [at press time].
Tell us about the types of properties in your market and which are most popular.
KK: Apartments are the most popular type of property in our market, followed by houses and land.
What types of buyers do you work with? Are they predominantly local, or mixed from other countries?
KK: At the moment, 50 percent of our buyers are local, with the remaining 50 percent coming from other countries [at press time]. Since late 2012, our buyers have predominantly been from overseas, but within the last four or five years, the number of local clients we’re working with is increasing. The reason for this increase could perhaps be because of loan availability for local buyers.
What are some of the most important trends in your market?
KK: We have seen increased interest in second homes, particularly with clientele from Asian countries, such as China, Hong Kong, Singapore, etc.
What are your biggest challenges/opportunities for growth?
KK: The Olympics, which are being held in Tokyo, have led to some price increases for properties located within Central Tokyo. We’re also seeing new construction in the area and an increase in infrastructure due to the Azabudai/Roppongi project, as well as the redevelopment project centered around Shibuya and Shinagawa stations, so hopefully, the high-market trend continues.
How does being part of Leading Real Estate Companies of the World® (LeadingRE) help advance your business?
KK: Being a part of LeadingRE has provided numerous opportunities to meet LeadingRE members from around the world, which has allowed us to appeal to their clients by highlighting the Tokyo real estate market.
For more information, please visit www.realestate-tokyo.com.
Paige Tepping is RISMedia’s managing editor. Email her your real estate news ideas at email@example.com.