Chinese Investor Buys Tokyo's Most Expensive House Since 2004
- The two homes were the most expensive sold since 2004
- Chinese visitors to Japan have doubled to 3.35 million in 2015
Residential buildings stand in this aerial photograph taken in Urayasu, Chiba Prefecture, Japan, on Wednesday, June 24, 2015. The Abe administration aims to cap increases in spending as it tries to rein in the world's heaviest debt load while sustaining a recovery from two decades of stagnation.
Photographer: Kiyoshi Ota/BloombergA Chinese investor paid the highest price for two newly built Tokyo houses in more than a decade as residential property values in the Japanese capital accelerate.
The unidentified investor in August bought two adjacent houses in Akasaka, a high-end commercial district, for about 690 million yen ($5.8 million) and 680 million yen, said Mitsuo Hashimoto, the president of Housing Japan K.K., which developed and sold them. That is the most expensive price for a new house in Tokyo since at least 2004, according to data from the Tokyo-based Real Estate Economic Institute Co.