Encouraged by a weaker yen, Hong Kong investors are hunting for Japanese real estate, snapping up luxury second homes on Tokyo¡¯s waterfront and seeking steady rental yields from studio apartments in smaller cities.
International property agents said sales have increased this year as the yen fell to multi-decade lows against the Hong Kong dollar, which has risen alongside the U.S dollar as the Federal Reserve raised interest rates while the Bank of Japan kept its ultra-easy policy. Expectations for an end to anti-COVID-19 border controls have also led to a recent rise in inquiries, although some clients were buying properties without even seeing them in person, they said.
¡°You have Japan as a tourist destination, as well as somewhere people can see themselves spending a lot of time,¡± said Jason Lam, the Hong Kong-based co-founder of Japan Hana Real Estate. ¡°The falling yen has definitely triggered a lot of focus on Japan.¡±
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