The why of buy

The information magazine publisher Recruit just released the results of its annual condominium purchase survey, which sampled 2,431 respondents who bought condos in the Tokyo metropolitan area in 2008. The two largest age groups represented were 30-34 year olds and 35-39 year olds. The latter demographic was unchanged from 2007, but the former group, which are known in Japan as “post-boomer juniors,” increased by several percentage points, which makes sense since that’s a prime age to buy a first home. However, this figure will likely drop since fewer young people are securing stable employment these days. Read More

Silver linings

After it was revealed in 2005 that many structures built by Huser Construction used false earthquake-proofing data to save on building costs, the company agreed to rebuild the affected structures. Eleven condominiums were rebuilt with subsidies from the central government. Nine have so far been completed, and this month, residents of one of them, the Grand Stage Rivage (formerly the Grand Stage Sumiyoshi) in Koto Ward, Tokyo, will move in. It will be a bittersweet move, to say the least. Read More