A room renovated and sold by MUJI HOUSE. Taken in July 2021 at Konandai Mejiro Danchi in Konan Ward, Yokohama City.
MUJI HOUSE, a subsidiary of Ryohin Keikaku’s housing business, will make a full-fledged entry into the condominium business of renovating and selling a room in an old housing complex.
In 2012, MOJI HOUSE started the “MUJI x UR” business. We have a track record of renovating over 1,000 rental properties in the Kanto area.
From 2021, it has also started selling condominiums that have been renovated.
“I want to keep the price as low as possible.”
MUJI HOUSE renovated the UR housing complex. Taken in February 2023 at Konandai Kamome Danchi in Yokohama City.
“Even if you try to find a second-hand condominium or a second-hand housing complex, the hurdles are quite high.Utilizing our experience in renovation, we will purchase housing complexes that we can recommend with confidence, and sell innovative products.”
Teruhito Toyoda, General Manager of the Renovation Business, who attended the press conference, explained the reason for the expansion of the condominium business.
In fact, second-hand condominium sales prices are skyrocketing.
According to the East Japan Real Estate Information Network System, the contracted property price of pre-owned condominiums in the Tokyo metropolitan area in 2022 will increase by 10.5% from the previous year to 42.76 million yen, rising for the 10th consecutive year.
Although second-hand condominiums are gaining popularity, MUJI HOUSE has so far sold only about 20 properties after renovation.
MUJI HOUSE, which is making a full-fledged entry into the condominium business, is appealing its functionality, such as excellent heat insulation, and “low prices.”
MUJI HOUSE announced in July 2021 that a 47-year-old property in Konandai Mejiro Danchi in Konan Ward, Yokohama City was sold for 19.9 million yen.
In the future, we plan to renovate housing complexes including URs that are old.”The selling price is influenced by the market, but we want to keep it as low as possible.”and
Advertisements
Responding to the needs of people who want to live immediately with a stable supply
For over 10 years, MUJI HOUSE has been involved in the renovation of rental properties in housing complexes.
On the other hand, MUJI HOUSE has achieved certain results in rental properties.
In housing complexes in particular, the deterioration of buildings and the aging of residents have become a problem, but the MUJI x UR project, in which MUJI has renovated rental properties in UR, is so popular that it fills up quickly.
According to MUJI HOUSE“Of the MUJI x UR properties with more than 1,000 rooms, we are currently recruiting for ten or so rooms.”It says.
“A full renovation at MUJI HOUSE would take about six months.Recent consumer behavior in Japan is called taipa (time performance), and we want to respond to the need to live immediately.(Mr. Toyoda of MUJI HOUSE)
As the used condominium market is overheating, the competition to acquire used condominiums before renovation is intensifying. For MUJI HOUSE’s condominium business, it is also important to be able to stably obtain second-hand properties that meet the conditions.
In response to the expansion of the condominium business this time, MUJI HOUSE willRecruiting “monitors who can live in a renovated property for free for 2 years” for only one groupIt is said that
The apartments where you can live for free are housing complexes around Fujisawa City in Kanagawa Prefecture. Details and how to apply will be announced on the website on April 21st.
Opening of the first model room in Kanagawa Prefecture
The first MUJI HOUSE model room in Kanagawa Prefecture. It will open on March 28th.
At MOJI HOUSE, at the same time as expanding the condominium business, the residential renovation business will also expand the coverage area.
Kanagawa Prefecture’s first model room “Yokohama Landmark” opened on March 28. Until now, only Yokohama and Kawasaki cities in the prefecture had been subject to renovation work, but Hiratsuka City, Chigasaki City, The service area will be expanded to include Kamakura City, Zushi City, and Yokosuka City.
Source: BusinessInsider
Emma Warren is a well-known author and market analyst who writes for 24 news breaker. She is an expert in her field and her articles provide readers with insightful and informative analysis on the latest market trends and developments. With a keen understanding of the economy and a talent for explaining complex issues in an easy-to-understand manner, Emma’s writing is a must-read for anyone interested in staying up-to-date on the latest market news.