Tokyo residential property prices are likely to hold steady after the Bank of Japan raised interest rates, although some areas may see declines, according to industry experts.
This year’s rate hikes — which take the central bank’s benchmark to 0.25% — aren’t so big that wealthy people are reluctant to buy, said Takeshi Ide, senior chief researcher at Tokyo Kantei, a real estate data and consulting firm. Capital gains from short-term sales are likely, he said.
Shogo Fujita, president of broker FJ Realty, also advises his clients to buy. He continues to receive many inquiries about new purchases, and no client has stopped considering buying because of rising interest rates.
