Newsletter
December 2005
Welcome to ffeilden
Property in Kobe, Japan
To those of you receiving this e-mail for the first time, welcome to the ffeilden newsletter, and to all of you a very Merry Christmas and Happy New Year. See our website: www.ffeilden.com
Undervalued?
In December The Economist newspaper quoted from an OECD report. The report, based on 2004 data points to a worldwide property bubble. Based on a number of factors, the report suggests that property in Australia is 52% overvalued, and in Britain 33% overvalued. Holland and Ireland also get a mention as overvalued. Interestingly, less prominent information in the last column of the article stated that gHomes in Germany and Japan are undervalued by more than 20%.h
Houses on Rokko Mountain.
It was interesting to see that the December issue of Kansai Time Out carried a feature about the houses and second homes on Rokko Mountain. By coincidence, at the same time, we were exploring the opportunities for people interested in living on Mt. Rokko.
Rokko san was opened as a hill station retreat by foreign residents wishing to escape the summer heat. Later the Japanese built their summer houses and companies built company dormitories. Mt Rokko experienced the same boom and bust property cycle as the rest of the Japan, and prices have fallen to affordable levels.
It is interesting to walk around with so many obviously empty properties hidden in the trees, some falling into serious disrepair. Rokko Mountain may be colder than, and less convenient than the city, but it offers a real alternative way to live, and still be close to the city. The views are breathtaking. The most convenient transport is by car, but there are buses and the Rokko Cable Car. There is also an elementary school.
Before thinking of buying, there are few important things you need to know. Firstly Rokko Mountain is part of Seto Naikai National Park, and there are restrictions about what you can do with a building. Secondly, much of the land is owned by Kobe City or Sumiyoshi Gakuen, and the land is offered leasehold, which means you pay rent for the land. In these cases you do save some property tax (koteishisanzei) which you would pay if you owned the land outright.
We looked at properties available on Rokko and selected a couple which are interesting either to live in or use as weekend retreats.
Of course we have access to all the Rokko property registered on the real estate network and more.
Modernized House 20,000,000 yen
Leasehold ( Kobe City) Land size 723 m2 (218.7 tsubo) 4LDK
Two storey wooden house. The entire house was refurbished in 1996 and completely modernized. South facing, garden space and balcony. There is an IRORI (Japanese fire place). Very good condition. Close to the elementary school and the historical golf course.
Living room with IRORI (fireplace)
Upstairs room
eAf Frame. 4,900,000 yen
Free hold. Land size 289.19 m2
Two storey wooden eAf frame. Built in 1973.
2LDK. Fantastic view from the balcony. Small but cozy. Requires some refurbishment. Good for weekend house. Car parking space is included.
Upstairs bed room
View from the balcony
For Sale or for Rent in Kobe
Now you can check the Properties on our website to see listings and photos of selected properties for sale and rent in Kobe. Check the website regularly for new property.
http://www.ffeilden.com/listing/
This of course is just a selection of what is available. We have access to all the properties registered for sale on the real estate agents network. And as always, you can request a search via our online application form
All real estate transactions are carried out through Kubota Home YK in Kobe.