TAIPEI (Taiwan News) — Taiwanese buyers are fueling a surge in Japan’s luxury condominium market as a weak yen and shifting regional wealth flows boost property demand, Nikkei Asia reported Monday.
Just 20 minutes by monorail from Tokyo’s Haneda Airport, the waterfront district of Tennozu has become a hotspot for luxury condominium towers overlooking Tokyo Bay and the Shinagawa transport hub.
For Taiwanese realtor Lin Chia-ching (林佳慶), who operates in Tokyo, Tennozu reflects a broader surge of Taiwanese participation in Japan’s property market. He said many clients are wealthy individuals from northern Taiwan seeking second homes or overseas diversification.
“Taiwanese buyers care about access to the airport,” Lin said. He added that frequent travel between Taipei and Tokyo via Haneda is a key driver of demand.
Taiwanese buyers now account for nearly two-thirds of foreign purchasers of newly built condominiums in central Tokyo, according to Japan’s Ministry of Land, Infrastructure, Transport and Tourism, per Nikkei Asia. Their presence has expanded alongside Taiwan’s strong semiconductor-led economy.
Taiwan’s technology-driven growth and strong stock market performance have fueled household wealth gains. The TAIEX index has risen sharply this year, while GDP growth is expected to be among the fastest in years.
That wealth has encouraged capital outflows into overseas assets. Some investors say they now hold more liquidity than they can efficiently deploy in Taiwan.
Japan has become especially attractive due to proximity and relative affordability. A weak yen has made Japanese property cheaper for Taiwanese buyers.
Geopolitical risk is also shaping investment decisions, with some buyers citing cross-strait tensions with China as a reason to diversify assets abroad. China’s slowing economy has also reduced pressure on outbound investment. This has left more room for Taiwanese buyers in Japan’s competitive property market.
A survey by E.Sun Bank and KPMG found 54% of Taiwan’s high-net-worth individuals would consider investing in the US. Singapore and Japan also ranked among top destinations, per Nikkei Asia.
In Tokyo’s 23 wards, Taiwanese buyers purchased 192 newly built condominiums in the first half of 2025, up 82% from all of 2024. The data excludes Taiwanese residents already living in Japan, suggesting stronger underlying demand.
Financial and real estate networks are expanding to support the trend. Taiwanese banks are opening Tokyo branches while Japanese brokers are adding Mandarin-speaking staff and concierge services.
Real estate company Andori head Inre Taketai said demand is expanding beyond Tokyo to Osaka and Fukuoka, particularly in areas linked to semiconductor investment. TSMC, for example, has a presence in Kumamoto Prefecture.
Despite debate over foreign ownership, Japan has not imposed restrictions but will tighten disclosure rules for buyers from October. Market participants say cross-border demand is unlikely to fade.
