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SG River Valley condo to launch at $2,100 psf

Property Here - Tuesday, August 06, 2013

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Efforts by Japan’s government to keep the yen weak have made property there more affordable than those in the neighbouring countries of Singapore, Hong Kong and Taiwan.

“Japan is cheap considering how much property prices have gained in Singapore and Hong Kong,” noted Akihiko Mizuno, International Director and Head of Capital Markets at Jones Lang LaSalle.

Home prices in Tokyo stand at around 120,000 yen (S$1,551) psf to 150,000 yen (S$1,938) psf, while psf prices in Hong Kong are pegged at around 280,000 yen (S$3,619) to 400,000 yen (S$5,169) and 200,000 yen (S$2,586) to 250,000 yen (S$3,231) in Singapore, said the consultancy.

Aside from being more affordable, Asian investors are also attracted to Tokyo properties as they make a good investment, offering returns of up to eight percent. 

“They expect to receive stable rental income and also have an expectation that prices will rise,” Mizuno added.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@allproperty.com.sg