MONDAY, FEBRUARY 14, 2022
As per rethinktokyo.com research, all twenty real estate brokerage firms have shown an increase in income, for the first-half financial year of 2022. This is basically their way of bouncing back after experiencing a significant drop due to the pandemic. From June 2020, things started to pick up slowly but surely for all the major brokerages in Japan. The rise in demand for home acquisition definitely played a massive role in the sudden turnaround.
We are going to briefly discuss the top brokerage companies within Japan. Organizations that have managed to recover their brokerage revenue to the equivalent or surpassed the levels of their pre-pandemic income. The highly ranked corporation, Mitsui Fudosan Realty witnessed its commission income rise to exceptional highs. However, the number of concluded contracts didn’t equate to the first half of the financial year 2020 levels. Eg. the 2019/2020 financial year.
Sumitomo Real Estates had an increase in the number of executed contracts. Their increase and success can be accredited to their second hand condo transactions. They did incredibly well in that market. Their competitors- Kinetsu Real Estate, reported that even though contracts had increased, the sales concluded were fairly low because of the strong demand which lead to property prices sky-rocketing.
Odakyu Real Estate also stated that the buyer movement is strong in both the central part of Tokyo as well as on the outskirts and surrounding suburbs. They too have seen a significant increase in their revenue because of the strong buyer demand within the market.