5 ms·
The big issues that consistently affects real-estate around Tokyo is proximity to a station and the age of the building. The basic rule is that a condominium m
by E14n 6y ago
The big issues that consistently affects real-estate around Tokyo is proximity to a station and the age of the building. The basic rule is that a condominium must be within 10 minutes walk from a station, and a free standing house up to 15 minutes walk. A house around 30 years old is worthless, and a house younger will be some fraction of its original purchase price. There are exceptions but this is a pretty good rule of thumb. Land is generally the only thing that appreciates in value and only if its in a desirable location. As a point of reference, we live in an 90m^2 home 45min from Tokyo station and it was less then the above price.
- PappaPatat 6y ago> A house around 30 years old is worthless Living in a city which city center was (re-) build between the 16th and 17th century, the 30 years till worthless puzzles me. Even the house I live in is over 100 years old and in excellent condition. Why do houses loose their value so rapidly in Tokyo?
- creamyhorror 6y agoBecause many of them were built cheaply to begin with and develop problems over the decades. They weren't built for long-term living, and in a sense it was the right move since Japan was developing rapidly up till the end of the '80s. (Well-built exceptions probably exist, of course.) And then there's increased earthquake/disaster risk with poorer construction. It's something I wondered about too until I looked at descriptions and photos of >30-year-old houses on real estate sites.
- E14n 6y agoI think that's more perception then reality. I live in a 30 year old house and it could easily last 100 years if properly maintained, but there is little incentive to improve the building because it will not improve the resale value.
- fomine3 6y agoMost Japanese houses are wooden made, and earthquake is often happens.