Eight of Japan¡¯s biggest real estate companies have joined forces to run a (why 7 and not 8 I have no idea), which features articles about condominiums. Last summer the group conducted its to find which urban location is the one where people would most like to buy a condo if they could. For the sixth year in a row the number one answer in the Kansai region was Ashiya, which isn¡¯t surprising. Ashiya, in Hyogo Prefecture, has always had a high-class reputation owing to the simple fact that rich people tend to live there and most of the city is located on a hill.
The most popular place in the Tokyo Metro area was Kichijoji, for the third year in a row. (For the record, the next nine preferences in descending order are Jiyugaoka, Yokohama, Futago Tamagawa, Ebisu, Hiroo, Kamakura, Meguro, Kagurazaka and Naka-Meguro) The website doesn¡¯t explain why Kichijoji is popular, but it isn¡¯t difficult to guess. Tokyoites see it as a youth haven filled with trendy retailers. It is also close to a famous park.
The preference is purely aspirational, especially if you look at what¡¯s available. Most units for sale near Kichijoji Station are small, cramped and expensive. You have to go at least 18 minutes from the station before you find something that might be : ?31 million for a 60 sq. meter 2LDK built in 1976 is a representative property. If you want something new, you¡¯ll pay through the teeth. A new 70 sq. meter apartment will put you back a whopping ?75 million. The prices are, on average, much higher than comparable units in areas closer to the center of Tokyo.
It¡¯s completely a name thing, and realtors know that. Kichijoji is in Musashino City, and when advertising condos or even rental apartments, many real estate agents list the nearest station to a Musashino property as being Kichijoji, even if it¡¯s much closer to, say, Mitaka. Of course, if you live in Mitaka you can always get off at Kichijoji station and take a bus home. That way you can tell your friends you live in Kichijoji, but sooner or later they¡¯re going to catch on.
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