Japan’s Declining Population Leads to Surge in Wealthy Asians in High-Rise Living Spaces

As Tokyo’s population continues to decline, the city is seeing a surge in the number of wealthy Asians flocking to its high-rise living spaces. Despite a shortage of housing, these spaces are becoming increasingly expensive, with prices continuing to rise. Thomas Hasler, head of Swiss construction chemicals group Sika, showcases Japanese urban planning from the 34th floor of the Mori JP Tower in Tokyo, highlighting how his company benefits from the rise of Japanese real estate developers.

The tower is part of a major project called “Azabudai Hills” by Mori, one of Japan’s largest real estate giants. The tower boasts over 200 buildings taller than 150 meters, with 53 exceeding 187 meters. It houses over 20,000 employees and 91 luxury apartments and showcases Sika’s concrete mixes and composite solutions. Ten more high-rise buildings are under construction or planned alongside many “tower mansions,” catering to the increasing population in Tokyo.

Tokyo’s appeal as a city is attracting not only workers and seniors but also foreign investors who are pouring billions into Japan’s real estate market, especially in Tokyo. This investment has led to record prices for condominiums in central Tokyo, putting pressure on average Japanese earners. However, this real estate boom is expected to continue in the coming years due to factors such as rising construction costs, increasing demand from foreigners and Tokyo’s attractiveness despite high prices.

Luxury apartments play a crucial role in attracting global talent and maintaining Japan’s competitiveness. Sika stands to benefit from ongoing development projects in Japan and will further solidify its presence in the market as it continues to showcase its innovative products and services on the world stage.

In conclusion, despite shrinking population size in Japan, its appeal as a city for wealthy Asians continues to grow due to its high-rise living spaces with amenities like schools, hospitals and restaurants becoming more appealing. Foreign investors are also pouring billions into Japan’s real estate market making it one of the safest investment destinations in Asia. With this boom expected to continue driven by factors such as rising construction costs and increasing demand from foreigners; luxury apartments will play a crucial role in maintaining Japan’s competitiveness while companies like Sika stand poised to benefit from ongoing development projects within the country.