Tokyo, the bustling capital of Japan, is experiencing a surge in population growth, especially among wealthy Asians. Despite this, the city’s high-rise living spaces are becoming increasingly expensive due to record prices for condominiums in central Tokyo. The Mori JP Tower, one of the newest and tallest skyscrapers in Japan, showcases Swiss construction chemicals group Sika’s concrete mixes and composite solutions. Sika’s head, Thomas Hasler, explains how his company benefits from the rise of Japanese real estate developers.
As more and more people flock to Tokyo, high-rise living with amenities like schools, hospitals, and restaurants becomes increasingly appealing. Foreign investors are also pouring billions into Japan’s real estate market, especially in Tokyo. However, this real estate boom has put a strain on average Japanese earners as prices continue to rise. Despite this challenge, luxury apartments play a crucial role in attracting global talent and maintaining Japan’s competitiveness.
The Japanese government is taking steps to address the issue of rising housing costs by introducing new measures such as rent control laws and subsidies for first-time home buyers. Additionally, major real estate developers like Mori are investing heavily in sustainable building practices and energy efficiency measures to make their properties more attractive to buyers and renters alike.
Overall, while there are challenges associated with Japan’s growing population and rising housing costs, the demand for luxury apartments remains strong. Sika stands to benefit from ongoing development projects in Japan as it continues to solidify its presence in the market through innovative solutions that meet the needs of both developers and end-users alike.