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Japan’s living the high life as more tower mansions go up

Local government authorities are backing developers to build ‘tower mansions’. Before national building regulations were relaxed, just 150 high rise towers were recorded across the country but in 2016, the figure stood at around 800.

Developers set their sights on satellite towns

Defined as a structure comprising 20 or more floors or reaching a minimum height of 60 metres, tower mansions have been gracing Tokyo’s waterfront for several years. Now developers are being supported by local government authorities with subsidies to build in satellite cities such as Kawasaki, Saitama, and Kashiwa.

For the past ten years, Musashi Kosugi in Kawasaki, just across the Tama River from Tokyo has seen ten towers built and the number of people moving in has boosted the population by 30,000.

Good transport links and state of the art amenities appeal to buyers and young families

Strategic planning around infrastructure and transport networks such as in the city of Saitama has seen 2,700 new tower mansions being constructed within walking distance of Omiya station, one of the biggest transportation hubs on the Kanto plain, where previously no new homes existed.

These new high rise homes are proving popular; a new building in Saitama City recently released 776 units and all sold almost immediately. Prices are considerably less than the equivalent property in Tokyo. Developers attribute the success to the amenities offered, such as state of the art gyms, media and music rooms, dance studio and hotel rooms for guests.

The new tower in Saitama was built at a cost of ¥38 billion, of which the city provided ¥4.3 billion. Some of the facilities in the condos are open to the public and the developers are required to create parks around the buildings for all residents.

Japan’s local government relaxes planning regulations

A Saitama City local spokesperson said: “We are working directly with developers in order to attract more young families to the area. We are guaranteeing that they can access land directly in front of the station. Building high rise buildings requires smaller plots we have changed the planning regulations to allow more towers to be constructed and across the country local government is relaxing height restrictions for high rise towers.”

The post Japan’s living the high life as more tower mansions go up appeared first on BuyAssociation.

Source: BuyAssociation

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