#Japan #Tokyo #Renovation #Global Base #Power Couples

Overview of Housing Choices Among Power Couples

A study conducted by Global Base Inc., a company specializing in high-quality renovated apartments in urban areas of the Kanto and Kansai regions, sheds light on the housing preferences of power couples in Japan. The study surveyed 1,050 respondents aged 20-50 living in Tokyo's 23 wards, including 400 power couples and 650 middle-income couples, aiming to understand what factors are prioritized when purchasing a home.

Context Behind the Survey

In recent years, housing prices have surged, especially for newly built condos located near train stations. The average price of new condos in Tokyo's 23 wards is projected to surpass 111.81 million yen in 2024, marking a significant financial hurdle for many prospective homebuyers. Power couples, defined as households with joint earnings exceeding 14 million yen, represent a small segment of the population that can still afford housing in this challenging market. Their purchasing decisions are guided by their financial flexibility, allowing them to consider a variety of options and make deliberate choices based on multiple factors, including future asset value, lifestyle compatibility, and educational environment.

Given this backdrop, this survey seeks to clarify how power couples approach their housing decisions and what values underpin their choices.

Survey Summary

Key Findings:

1. Primary Factors in Housing Purchase: When asked about their top priorities in home selection, power couples emphasized ‘location’ and ‘proximity to the station’ rather than focusing on whether the property was newly built. The results challenge the notion that modern properties are still the preferred choice among buyers.
2. Difficulty Finding Ideal Properties: Over half (58.0%) of respondents indicated challenges in discovering their dream homes, with the main barriers being high prices and a scarcity of properties matching their criteria. Furthermore, around 40% noted that clarifying their preferences and aligning on conditions with their partners could have improved their search experience.
3. Desire for Customized Renovation: A significant majority, more than 60%, expressed interest in owning a customized renovated apartment. Power couples are drawn to the ability to personalize interiors and modify layouts to suit their unique lifestyles.

Detailed Survey Findings

Q1: Do you plan to purchase a home in the future?

Among respondents, 56.0% expressed that they would like to buy a house, indicating strong interest in home ownership among power couples.

Q2: What are the top three factors you consider important when purchasing a home?

- 1st: Location - 56.5%
- 2nd: Proximity to the station - 43.1%
- 3rd: Price - 38.2%

This contrasts with middle-income couples, for whom pricing was a more pressing concern. Interestingly, only 10.0% of power couples prioritized whether a property was new or not, indicating a significant shift in values away from the traditional emphasis on brand-new constructions.

Q3: Have you encountered challenges in finding your ideal home?

When asked, 58.0% of power couples reported difficulties. The leading reasons were high prices and a lack of suitable properties. Notably, power couples indicated that while price was a concern, they felt slightly less constrained than their middle-income counterparts.

Q4: What improvements could have made your home search more efficient?

The survey highlighted that clarity in preferences and pre-discussing conditions with partners were vital for a smoother purchasing process.

Q6: What do you think of customizable renovated apartments?

Around 63.0% of power couples expressed significant interest in living in renovated apartments where they can influence the design and functionality to satisfy their needs.

Notable Examples of Customized Spaces

Power couples often take advantage of renovation services to create homes that reflect personal tastes and adapt to evolving life stages. For instance:

• - Case 1: A couple transformed a large kitchen space into a stylish communal area that enhances their living experience, creating a home they eagerly return to.
• - Case 2: Another couple shifted their focus to asset value, opting for a stylish renovated apartment that exemplifies a modern lifestyle.

Closing Thoughts

The findings from this survey not only underscore changing priorities among power couples in Japan's housing market but also highlight the increasing importance placed on renovations that cater to individual preferences. As new constructions become less accessible, the trend towards customized living spaces is likely to grow, making innovative renovation solutions a vital consideration for future homebuyers.

For more information on Global Base and their renovation services, visit their website: Global Base.