After ending the call with Kenichi Sagawa, Ning Weimin called Aoba Real Estate and contacted Miyoko Kagawa, who was also at work, intending to explore the current Japanese property market.
And the information he obtained from Miyoko Kagawa once again proved that the Japanese stock market is crazy, and so is the real estate market.
As we all know, the Plaza Accord in 1985 was the most important turning point for the bubble economy.
From 1985 to 1986, in just two years, the average land price across Japan nearly doubled.
Tokyo was even more impressive, nearly tripling its value.
You know, the average price per square meter of land in Tokyo's business district in 1984 was 1,333,000 yen (assuming that 1 US dollar = 238 yen in 1984, it was 5,600 US dollars).
In just one year, the average price per square meter of land in Tokyo's business district rose to 1,894,000 yen (assuming the average price in 1985 was 1 US dollar = 238 yen, it was 7,958 US dollars).
This roughly equates to a 42% increase in one year.
By 1986, the average price per square meter of land in Tokyo's business district had reached as high as 4,211,000 yen (assuming the average price in 1986 was 1 US dollar = 168 yen, it was 25,065 US dollars), an increase of 122% compared with 1985.
Especially in Tokyo's three core areas, Chiyoda, Chuo-ku and Minato-ku, the transaction prices of land and houses are unbelievably high, far exceeding the average prices in other areas of Tokyo.
Among them, Toranomon, with its skyscrapers in Minato City, and Ginza, with its famous shops in Chuo District, saw the largest increases.
For example, the land in front of Hatojudo in Ginza 5-chome, Tokyo, was recently traded for 38 million yen per square meter, breaking the price ceiling and people's perceptions, and became the king of land in Tokyo.
Converted into U.S. dollars, that’s more than 200,000 U.S. dollars per square meter!
This shocked all international speculators involved in real estate speculation in Tokyo!
It almost blinded their eyes.
And this year, not only have land prices in central Tokyo accelerated at an abnormal rate, but similar phenomena have also gradually spread to other remote suburbs of this metropolis.
Adachi Ward, which has always had the lowest housing prices, now has an average price of over 400,000 yen per square meter.
This also surprises Japanese citizens who want to buy houses.
You must know that two years ago, buying a house here only cost 160,000 yen per square meter.
Buying a 60-square-meter house costs only 9.6 million.
Based on the annual salary of 4 million for graduates of the University of Tokyo, it only takes three years of income to buy it.
Now even if you don't eat or drink, it will take ten years.
What supports the rise in land prices is first of all the expectations of the Japanese people.
Everyone in Japan believes that "as Japan's economy grows, Tokyo will become the financial center of Asia."
Companies from all over the world gather in the center of Tokyo, hoping to have a place here.
As the economic value of land increases, land prices will naturally rise accordingly.
In addition, there are measures by the government to allow bubbles and invest heavily in infrastructure construction.
This year, in addition to the Bank of Japan repeatedly lowering the benchmark interest rate, resulting in excess financing and currency flooding.
On September 19, 1986, Japan's Economic Countermeasures Cabinet Meeting approved a "Special Comprehensive Economic Countermeasure" totaling 3.632 billion, of which 8 trillion was used for the construction of large public buildings, facilities and roads.
This also means that the "New Capital Renovation Plan - Multi-core Joint Urban Area Construction Draft" proposed by the Metropolitan Development Bureau under the Japan Land Agency in 1985 is likely to begin to enter the substantive stage.
So under this strong expectation, people rushed to buy land, and people from all walks of life rushed to develop it first.
Words such as "demolition" and "resale of land" have also become increasingly popular.
Demolition refers to the acquisition of land that was previously densely populated with low-rise buildings and razed it to open space for future construction of high-rise buildings.
Land rights relationships in urban centers are often complex and require considerable effort to convert them into vacant land.
Large real estate development groups usually do not come forward in person, but hire subcontractors to do preliminary work. As a result, many "demolition teams" of unknown origin have emerged.
Resale of land means buying a land parcel and then reselling it.
Land prices continue to rise, and huge profits can be made by buying and selling.
You can also easily obtain a loan from a bank by using land as collateral, and you can make a profit by changing hands with almost no money.
Many companies have joined this industry in order to make huge profits.
The term "pencil building" even appeared at this time.
It refers to a company that builds a five-story, pencil-like slender building on an extremely narrow piece of land.
In short, these new words that appear along with social forms are like everyday words, spoken and heard everywhere.
Ning Weimin's apartment building in Akasaka, Minato District, was undoubtedly targeted by "predators" who had received relevant information in advance for these reasons.
In view of the fact that the price of apartments in the Akasaka area has risen to about 10 million yen per square meter, which is equivalent to 60,000 US dollars.
Ning Weimin suddenly understood why this architectural firm that wanted to acquire an apartment building was so anxious that it started to use any means to force it.
After all, the rise in housing prices has been unstoppable, and the longer this matter is delayed, the more detrimental it will be to their acquisition.
Considering the area of the entire building, maybe if the price increases by one million yen, it will cost them several billion more.
To be honest, if it were him, he would have to be anxious.
So for your own safety and overall long-term interests.
Even if he couldn't get the maximum profit from this apartment, even if it was troublesome to move and change his office location, he had already made up his mind to sell the apartment in Akasaka.
This is something that can't be helped. As the saying goes, a good man will not suffer immediate losses, and a strong dragon will not overwhelm a local coward.
Who said he was a foreigner? He had to give up when he wanted to make money in other people's lands.
Therefore, under the current situation, the only thing he could do was to discuss with Axia and see if he could turn to the Daochuan Society behind Axia to strengthen his momentum and negotiate a better transaction price.
Thinking of this, Ning Weimin thanked Miyoko Kagawa for providing him with the information, and planned to hang up the phone.
After all, work time was coming soon, and he didn't want to interfere with other people's business.
Unexpectedly, it was Miyoko Kagawa who asked him not to hang up the phone yet, claiming that she still had something to say to him.
"President Ning, I... Yujiro and I finally bought our own apartment, and the bank loan has been approved."
Ning Weimin waited quietly for a moment, and finally Miyoko Kagawa's beaming voice came through the phone.
This news surprised Ning Weimin.
Originally, he thought that Miyoko Kagawa and Yujiro Sakai, who came from poor families, were reluctant to pay interest and were afraid of taking on debt, so they had to save enough money to buy a house.
Maybe they will suffer a big loss in this matter due to the limitations of their personal knowledge.
There is no way, the Japanese are just brain-brained, and their thinking and concepts are not as easy to change as the Chinese.
He had tried to persuade someone to do this kind of thing several times, but it was hard to do so. After all, it was everyone's own choice. Friendships were over once they had been fulfilled, and it was not good for him to overstep his will.
"Have you finally decided to buy a house? Is it because the loan interest rate has dropped?"
Ning Weimin quickly thought of the real reason.
Sure enough, Miyoko Kagawa admitted it.
"Well. Yujiro and I did the math and found that the loan is now more than half cheaper than last year, so we made up our minds."
"Okay, okay, this is a good thing, congratulations. Where did you buy it?"
"Just in Kameido, in the north of Koto Ward."
Kameido is an ancient Shitamachi community in Tokyo and a major transportation hub that allows easy travel between Tokyo and Chiba.
Kameido and Kinshicho (Sumida Ward) are collectively known as "Kameido-Kinshicho Vice City Center". It is the main shopping district in eastern Tokyo, and the area around the station is prosperous and lively.
Ning Weimin had been there and knew that it was not far from the central district, so it was convenient for Miyoko and Yujiro to go to work, and the local rental prices were relatively affordable.
Although it is not one of the six future core districts of Tokyo, considering the housing prices and practicality, it is undoubtedly a very cost-effective place.
"The place you chose is good. You are a real estate agent. So what type of house is it?"
"It's a one-family house."
"Oh! That's amazing!"
Ning Weimin couldn't help but exclaimed. There are roughly five types of houses in Tokyo: single-family houses, group land, apartments, dormitories, and farmhouses.
Although in the minds of Tokyoites, high-end apartments, especially high-rise apartments, are the most popular among all residences because of their good services, good facilities, and garbage rooms and other benefits, the area of the apartments is often not large enough.
Moreover, some apartments may not have land rights, which is definitely not ideal in terms of profit from the transaction.
It's different for a one-family house. As long as the land is not too strange, the smallest one-family house should have an area of more than 100 square meters.
Moreover, when Miyoko Kagawa bought a house for herself, the land rights must be included.
This is undoubtedly the greatest wealth opportunity that can change the lives of these two poor children.
Sure enough, even though Miyoko Kagawa said such modest words as "No matter what, I can't compare with you", she couldn't hide her pride and satisfaction and introduced the specific situation of the house to Ning Weimin.
"Not far from the station and the commercial district, just around the corner is the Kameido Ten Shrine. The entire yard is 25 square meters in size. The orientation of the house is also very good. However, the area of the house must be smaller, and the actual space in the house
The upper and lower floors are only 160 square meters each. Fortunately, there are a lot of rooms, so we can even accommodate our parents from the countryside."
"That's great. How is the condition of the house?"
"It's very good, because the owner of the house had just completely renovated it the year before last. Yujiro and I checked the work carefully. The circuit is safe and the water is smooth. The eaves and gutters are in good condition, and the copper decoration on the outside of the house is also very eye-catching. But no matter what
In this way, the inside of the house definitely needs to be remodeled according to your own wishes."
"Oh, that's okay. This will save a lot of money. However, I was shocked. It was bigger than I thought."
"Haha, to tell you the truth, we have been thinking about this for a long time. Speaking of which, a large area means a large expense. Our income is not fixed, so it took a lot of courage. Of course, the most important thing is to trust you.
Fortunately, we fully believe in President Ning’s judgment that housing prices will continue to rise before selling.”
"Hmm, you don't have to doubt this. You definitely bought the right house. But I'm curious, Miyoko, how much did you negotiate for the house you chose for yourself?"
"Well...it should be considered a trade secret."
"Oh, I'm sorry, I was rash. If it's inconvenient, then..."
"Haha, actually no, I was joking with you, president. Of course there is no need to keep the price a secret from you. That's right, this house was put up for sale in the first half of this year. The owner is greedy.
The price I asked for was 10% more than the market price, and it was constantly adjusted as house prices rose, so it never sold. But just last month, the homeowner suddenly died of a heart attack when he was dining out.
The owner of the house had a concubine and illegitimate children. Therefore, the owner's wife, the widow, asked for a price reduction and sold it as soon as possible to avoid the loss of property. According to the reasonable price of the house at the time, it should be sold at 240 yuan at present.
It’s about 100,000 yen per square meter, and the total price is about 60 million yen. Yujiro and I bought it for 50 million yen. Although the bank loan required 35 million yen, the market price of this house has increased now.
It’s reached 2.8 million square feet.”
Having said this, Miyoko Kagawa could no longer hide the joy in her heart and laughed happily.
Ning Weimin couldn't help but joked, "Ah, I'm so envious. The house you bought is so worth it. You've earned 20 million yen in just a few days."
"That's not true. I can't compare to you, President Ning, in any case. I won't say how many properties you have in your name. The location alone is enough to make us envious. The current market price of your apartment in Akasaka is...
You can buy at least ten houses like ours."
"Then I don't care, you want to treat me anyway."
Ning Weimin was joking, but he was really happy for Miyoko Kagawa.
Speaking of which, although you still suffer a lot when buying a house now, the speculation during the bubble period was nothing more than a game of getting rich first and then getting richer later, with the spoils being distributed unevenly.
Running into the field at this time can be regarded as correcting errors in time, which is much better than not entering the field at all.
Rising asset prices will eventually lead to an increasingly alarming gap between rich and poor.
People who own stocks or real estate have become the new rich class, and people who do not have these assets have become the new poor class.
In addition, most of the profits brought by the bubble were taken away by insiders, while all the losses caused by the bubble fell on
On the head of an outsider.
Therefore, the myth of "classlessness" has been shattered.
And to be fair, Miyoko's career has indeed exerted a lot of power. Being able to buy it at this price can be regarded as a big advantage.
You can’t always buy at the most suitable price. Frankly speaking, compared to other ordinary people, Miyoko Kagawa and Yujiro Sakai are really lucky.
At this time, Miyoko Kagawa also announced another piece of good news.
"No problem, even if you don't mention this matter, president, we still have to invite you. It was you who strengthened our belief in buying a house. In fact, we have been waiting for you to come and visit our house when you are free. And
To be honest with you, Yujiro and I have decided to get married. We both sincerely presented the invitation with our own hands and hope that you can attend our wedding."
Ning Weimin couldn't help being stunned again, but then he realized what he was doing and congratulated him even more enthusiastically.
But then again, who said Japanese people don’t care whether they buy a house or not when they get married?
Did these two people obviously get married after buying a house?
In any case, this is the result of cultivation, and I am luckier than myself.
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