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Tokyo condo prices climbing |
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HOME >> NEWS >> Tokyo condo prices climbing |
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 Higher prices of developer-built condominiums are making these properties less attractive to investors.
According to a 2007 survey by the Real Estate Economic Institute and a group of real estate appraisers, the index of the coupon yield on condos in Tokyo fell to 4.1 per cent last year - down 0.7 percentage point from 2006. The index for the five central-Tokyo wards of Chiyoda, Chuo, Minato, Shinjuku and Shibuya also slid 0.7 point to 4.1 per cent.
The return is obtained by simply dividing rental income by the amount invested. Calculations were made on the assumption that funds were managed by investing in developer-built condos newly put on the market in 2007.
The decline in the return marks a third consecutive year for the overall Tokyo market. The yield for central Tokyo has been trending downward since the survey began in 2000. Last year, condo prices for overall Tokyo rose to 755,000 yen (US$7,243) per sq. meter, up 12.3 per cent. But rents fell 3.4 per cent to 2,552 yen per sq. meter.
Source: http://www.property-report.com/ |
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