Tue, Nov 25, 2014 - Page 13 News List

Sinyi Realty expanding operations in Japan

By Crystal Hsu  /  Staff reporter

Representatives of Mitsubishi Real Estate Services and Sinyi Realty yesterday launch a joint promotion to sell apartments in Tokyo’s Shinjuku District.

Photo: Lin Mei-fen, Taipei Times

Sinyi Realty Inc (信義房屋) plans to double its presence in Japan next year, because it expects business prospects to look up as Tokyo allows the yen to depreciate in a bid to attract investors.

The Taipei-based broker intends to increase its number of offices in Japan from the current five to eight next year, while raising its number of brokers from 20 to 40 to meet growing demand, Sinyi Tokyo managing director Kenny Ho (何偉宏) told a media briefing in Taipei.

In addition, Sinyi plans to set up a property management unit in Japan to help Taiwanese home owners find tenants since most are not qualified to live in Japan, Ho said.

“Our business in Japan has multiplied over the past five years, with the trend gaining strength after the Japanese government launched economic reforms,” Ho said.

The broker’s Tokyo branch reported 350 deals for the first 10 months of the year, with an aggregate value of NT$5.24 billion (US$168.98 million), and expects the number to exceed 450 deals and NT$8.15 billion for the full year, Sinyi project manager Lee Chien-yi (李芊億) said.

The yen’s weakening has not dampened buying interest among Taiwanese investors, as property prices in Tokyo’s central business districts rose by 10 to 30 percent alone this year, Lee said, adding that real-estate properties in Japan generate higher rental yields than those in Taipei.

As Tokyo is to host the Summer Olympics in 2020, fueling expectations of property price hikes in the Japanese city in the long run, investors are not worried about short-term currency volatility, Lee said.

Customers can also buy properties in Japan with borrowed money if they want to reduce currency-

exchange risks, Lee said.

Taiwanese buyers can seek loans from the Japanese branches of First Commercial Bank (第一銀行), Chinatrust Commercial Bank (中信銀行), Chang Hwa Commercial Bank (彰化銀行), Bank of Taiwan (台灣銀行) and Mega International Commercial Bank (兆豐國際商銀) if they meet credit requirements, Lee said.

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