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Taiwan home buyers show rising interest in Tokyo market: realtor

Taiwan home buyers show rising interest in Tokyo market: realtor

Taipei, July 4 (CNA) Sinyi Realty Inc. (????), one of Taiwan's leading property sales agencies, said Saturday that the weakness of the Japanese yen has not only lured Taiwanese travelers but also potential home buyers here who are eager to take advantage of foreign exchange gains. Ho Wei-hung (???), head of Sinyi Realty's subsidiary in Japan, said that many Taiwanese who were taking a trip to Tokyo were seeking property investment instruments in the city in light of the yen's recent plunge against the greenback. With the Bank of Japan, the Japanese central bank, kicking off a U.S. Federal Reserve-style quantitative easing, the yen has been trending lower against the currencies of its major trading partners. Since the beginning of 2014, the Japanese currency has dropped more than 17 percent against the U.S. dollar, and many Taiwanese consumers have found that not only travel to Japan but also a wide range of products, including property items, have become more affordable. Ho cited statistics compiled by Sinyi Realty as saying that about 100 Taiwanese visitors went to his Tokyo outlet a month in the first half of this year, asking to survey the property market in the city, aiming to pick up investment targets. Ho said that the monthly visits to Sinyi's Tokyo office in the first half of the year rose 10 percent from a year earlier, adding that the number is expected to rise further during the summer vacation. After the Japanese government launched a series of stimulus measures, the job market and private consumption in the country have showed signs of improving so that more and more young Japanese have been moving to downtown Tokyo, which has boosted the property market in the city, Ho said. Under such circumstances, a lot of property investors have target homes located in downtown Tokyo to purchase in a bid to enjoy a higher return, Ho said. In addition, the Sinyi Realty executive said, the Tokyo government has been pushing for urban renewal projects, so a lot of districts Taiwanese are familiar with, such as Ginza, are launching large-scale property development projects to stimulate buying interest. Ho said that he prefers property located in Shinagawa, which is close to the Haneda Airport, since the district boasts convenience in transportation. Homes located in Shinagawa have been favored by the young generation and small-sized families, he said. (By Wei Shu and Frances Huang)


Updated : 2021-09-18 16:47 GMT+08:00