According to The Asahi Shimbun, there is an older apartment building in the greater Tokyo metropolitan area purchased by an Australian investor in June.
But instead of living there, the buyer is taking advantage of the weak yen to make a timely investment.
“More foreign investors began looking for properties in Japan following the depreciation of the yen,” said Masahiro Kusanagi, an official of the real estate firm Nihon Agent Inc., which sold the apartment. “Some are selling their properties at inflated prices by taking advantage of the weak yen.”
Overseas investors are increasingly jumping on the recent sharp depreciation of the yen to purchase real estate properties in Japan at bargain prices.
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