- High-rise condominiums
- Investment target
- Japan investment
- Japan property
- Japan Property Investment
What is Tower Mansion?
“タワーマンション” Tower Mansion in Japan means “high-rise condominium” or “high-rise apartment”
Hello! I’m Masaki Tanzawa and a licensed property agent and management manager.
You have heard the word “Tower Mansion” in Japan.
I here touch on a matter of popular condominium format.
What is Tower Mansion?
Recently high rise buildings of condo are built a lot, in particular city center areas in Japan including Tokyo, Nagoya, Osaka etc.
In Tokyo 183 buildings called Tower Mansion were constructed and it provided 84,012 units In the 2019 survey.
There is no definition of “Tower Mansion” by law, but generally it is recognized as “Tower Mansion” which is 60 meters or more height, and or 20th floor and above building.
It is called a “skyscraper” in Building Standard Law in Japan.
“Tower Mansion” became popular amongst the younger generation, and people who aim for investment return to rent.
Why is popular?
1. Location is good, most of them are built near the train station and shopping facilities
2. Good view in upper floors
3. Good amenities
4. Lower property tax amount as the site shared by numerous units
What is the forecast of “Tower Mansion”?
It is predicted that high rise buildings will still be increased. Actually there are many plans to build over 50 floors in the Tokyo Capital Area and other city areas in the entire Japan.
For example, a new complex building for offices, shops and residences is under construction in Tokyo central.
54 floors above ground
Total Units 547
“Tower Mansion” a good target of property investment?
Yes, I think it can be a target.
Indeed the number of units supplied of high rise condos has declined a little due to COVID-19 crisis.
However from past cases the market price and rent of high rise condos seems not to fall down so easily. That means demands/popularity for “Tower Mansion” is as yet persistent.
And the plans as mentioned above will encourage the supply to recover, then new demands will also arise.
Most Tower Mansions are built within 20 years and with the advanced building technology.
So that an asset value from building structure is believed to be firm.
But there are a few points to note in advance when you buy units of Tower Mansion.
Firstly You need to notice that it may cause inconvenience if the lift is suspended in case of disaster.
Secondly it definitely costs much more than usual for the large-scale repair work. So repair reserves should be considered sufficiently in addition to the management fee.
Please do not hesitate to contact me for inquiry.
AER NEXT LLC.
7F, KeioShinjuku321 Bldg., 3-2-1, Shinjuku, Shinjuku -ku, Tokyo, JAPAN 160-0022
Contact person: Masaki Tanzawa
License : Tokyo(1)105965