With the Olympic games coming to Tokyo in 2020, there will be more international attention to property investment in Tokyo. Below are some facts to consider investment in Tokyo.
The 2020 Olympic Games are scheduled to be held in Tokyo from July 24th to August 9th. Tokyo’s 2020 bid committee project $37.9 billion economic benefit and it create more than 152,000 jobs across Japan. Construction of stadiums infrastructures, and other facilities are to take place over the next 7 years. About 90 percent of the competition venues will be located within 8 kilometers (5 miles) of the Olympic Village in Harumi, a bay area about 2 kilometers southeast of downtown Tokyo.
The Tokyo Metropolitan Government finalized a plan to develop a medium-rise housing complex with roughly 5,000 units in the Harumi area in Tokyo's Chuo Ward. The complex will house athletes and others connected with the 2020 Olympic Games. After the games, the village will be sold off as private housing.
In March 2014 land prices for Kachidoki area, a bay near the Olympic Village were announced as having increased a very profitable 10.9% from last year. With the improvement in infrastructure, such as parks, stadiums and transportation, the property values in the bay area may increase dramatically. Apartment prices in Harumi, at about 828,000 yen ($8,300) per square meter (10.76 square feet), are below the average of 868,000 yen per square meter in Tokyo’s 23 wards.