| Budget Amount *help |
¥1,700,000 (Direct Cost: ¥1,700,000)
Fiscal Year 1999: ¥800,000 (Direct Cost: ¥800,000)
Fiscal Year 1998: ¥900,000 (Direct Cost: ¥900,000)
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| Research Abstract |
After the collapses of Japan's stock and real estate markets, the prices of land in the Tokyo Metropolitan area have rapidly fallen. At the same time, the prices of the second hand condominiums have come down, too. However, not all the house prices have declined. In fact, especially the values of the houses, which are old, small and far from the metropolitan area, have fallen. It is because the dwelling house sizes of condominiums are smaller than those of houses in the suburbs. When selling the secondhand houses, it is not likely that there are so many customers from the inner city like when selling the newly built houses. Moreover, it is revealed that these will not fascinate the dwellers in the suburbs. In addition, it is confirmed that the prices of the medium and low-rise buildings with relatively small floor area ratio have radically fallen. It is because the newly built houses have trait of high-rise. It should be pointed out that there is a structural defect in the evaluation system of the secondhand houses. The situation is that the floor space is evaluated, but the land space isn't.
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