Taken on a Sunday morning in Ginza, one of the most elegant districts of Tokyo (located in the central Chuo ward). (Tokyo, Spring 2016)
The density of the world-wide recognized fashion houses represented in the area is very impressive. It seems that everybody wants to be present there. A square meter of land in the district’s center has been for years worth two digit amounts expressed in million yen (10 million yen is worth around eighty thousand EUR), making it one of the most expensive real estate markets in Japan. Currently quite high price increases are recorded as Tokyo prepares for 2020 Olympic games. The highest transaction deal reported lately by the Tokyo authorities was for 50 million yen per sq meter (around 390 thousand EUR, 450 thousand USD). The hike is not expected to last for long as experts indicate huge oversupply, but still the property business seems to be profitable.
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