Taiwan Realty Co. opens first branch in Tokyo
June 26, 2014, 12:01 am TWN
TAIPEI--Taiwan Realty Co. (台灣房屋), one of Taiwan's leading real estate agencies, announced Wednesday that it has established its first outlet in Japan by opening a branch in Tokyo.
The Tokyo office will help it provide better services to Taiwanese investors eyeing the housing market in Japan, the realtor said, and it intends to set up another branch in Osaka within a year to expand its coverage of the Japanese market.
Taiwan Realty President Kevin Peng (彭培業) said the rate of return in Japan's property market ranges between 3 and 4 percent, beating Taiwan's average return of around 2 percent, making it a viable opportunity for Taiwanese investors.
With business ties between Taiwan and Japan, in particular in tourism, growing in recent years, Peng said he believed that many Taiwanese investors will pay closer attention to the Japan's residential property market.
Yet Taiwan Realty's plans for its presence in Japan go beyond catering to Taiwanese property investors. It hopes to take advantage of its three other overseas branches in Los Angeles, Kuala Lumpur and Vancouver to build its business in Tokyo.
The realtor intends to pitch Japanese property in those other markets and send groups of international investors to Tokyo to survey the property market there.
Peng said his company has set a sales target for the Tokyo branch in 2014 of NT$5 billion (US$167 million) by brokering a total of 500 housing units.