Demand for High-Priced Condominiums Grows in Japan’s Regional Cities

In addition to metropolitan areas, the number of high-priced condominiums for sale in Japan’s regional cities, especially those with sales prices of 100 million yen or more, known as Oku-shon (million-unit condominium), is increasing.

According to a survey by the Rifle Homes Research Institute, the number of million-apartment locations listed on the Rifle Homes housing information website has increased to 35 prefectures in 2024.

Four years ago, in 2020, the number of Oku-shon locations listed on the site was only 18 prefectures, mainly metropolitan areas such as Tokyo, Osaka, Kanagawa, Aichi, and Hyogo prefectures.

The 2024 survey shows that new Oku-shons are being sold in regional cities such as Fukushima, Ibaraki, Shimane, and Kagoshima prefectures.

Demand for high-value properties is believed to be rising, especially among affluent families and high-income dual-income households. It is also said that due to the increase in the number of wealthy people, more and more are purchasing these properties for asset building or to save taxes on inheritance.

(source) https://news.yahoo.co.jp/articles/593be3dcf81dea61e0717afd3334b1923f34adce