Overseas investors push up tokyo property prices

Overseas investors are pushing up property prices in Tokyo, according to new figures.

The Nikkei Asian Review says that prices in Tokyo have risen by 1.8 per cent in the past 12 months, according to the Japanese Land Ministry, despite values falling across the rest of the country.

The increase is fuelled by interest from foreign buyers, says the review: "Demand for properties in Tokyo is also strong among Asian investors in China and Taiwan. In addition, more foreign people working for foreign-capitalized companies have recently become residents of luxury rental apartments there."