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The Peak Tengachaya - Property in Osaka


About The Peak Tengachaya

Visitor arrivals to Japan have grown 7 years in a row

According to statistics by the Japan National Tourism Bureau (JNTO), the number of visitor arrivals to Japan in 2018 (based on estimates) increased by 8.72% over last year, setting a new record of 31,191,856 visitors. Since the start of In terms of the tourism consumption of visitors to Japan by nationality and region, tourists from China accounted for 1.545 trillion yen in spending (34.2% of total tourism consumption). This was followed by South Korea’s 588.1 billion yen (13.0%), Taiwan’s 581.7 billion yen (12.9%), and Hong Kong’s 335.8 billion yen (7.4%). Shinzo Abe’s second term in office in 2012, tourism has been a key driver of the country’s economic development. The number of visitors has grown nearly four times in six years, far exceeding the target of 30 million visitors by 2030.

 

Osaka’s growth rate of foreign tourists far exceeds Tokyo’s

 

With the rise in visitor arrivals to Japan, the growth in the number of foreign tourists in Osaka was about three times that of Tokyo from 2015 to 2017. In 2017, the number of foreign visitors to Osaka stood at 11,103,445, which was close to the 13,774,000 foreign visitors to Tokyo. As a result, the gap between the two prefectures has narrowed significantly from a difference of 4.73 million visitors in 2015 to 2.67 million visitors.

 

THE IR IS EXPECTED TO OPEN IN 2024

 

In July 2018, the "IR Improvement Act" was enacted. Private companies will be involved in the development and operations of the entire IR, or integrated resort, including the high-end hotels, dining establishments, shopping malls, entertainment facilities, international conference centers, exhibition halls, and casinos. It is hoped that enterprises will provide attractive facilities for businesspersons and families at any time of the day or night, enabling all consumers to enjoy high-quality services. Estimated project progress: Companies in various businesses and regions will be selected from 2019 to 2020, the design evaluation will be conducted from 2020 to 2021, and the IR will be opened in 2024.

 

Development in Osaka’s land prices

 

Data from the past 20 years shows that the average land price in Osaka Prefecture has been higher than Japan’s overall average land price. At the peak of the real estate market in Japan in 1991, average land prices in Osaka Prefecture were nearly 1.2 times higher than that of Japan. According to the latest statistics from the Ministry of Land, Infrastructure, Transport and Tourism, the average land price per tsubo (approximately 3.31 square meters) in Osaka Prefecture in 2019 has reached 986,592 yen, 33% higher than the national average of 741,081 yen. The data reflects that as Japan's real estate becomes increasingly prosperous, the land price in Osaka Prefecture will start to drastically deviate from the overall land price in Japan.

 

5-min. walk from Tengachaya Station • Sakaisuji Line • Koya Line • Nankai Line • Nankai Express
6-min. walk from Kishinosato Station • Yotsubashi Line

 

Read More: Japanese Property Investment Guide for Foreign Buyers

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Project Info

HKD 1,545,094.8

ft²

ft²



Brochure / Floorplan / Factsheet

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Project Location

0.0.63-SNAPSHOT[Tue Mar 26 2024 14:46:32 GMT+0800 (HKT)]f54a49ece2266e51b98a66e6bff98d548bc5d88f