Migrants double the cost of rental housing in Japan
Price increase due to limited supply
/NOVOSTIVL/ An influx of construction workers to meet the demands of the tourism boom on the Okinawan resort island of Miyakojima is creating severe apartment shortages, sending rents higher. This article appeared in the Okinawa Times.
Take the rent for studio apartments, which combine the living room, bedroom and kitchen into a single room, using Miyakojima and Naha for comparison.
The rent for a 25- to 30-sq.-meter unit in the redeveloped northern district of Naha usually costs ¥55,000 to ¥60,000 a month, according to Naha-based real estate company Takechan Home.
In Miyakojima, however, the rent for this type of apartment climbs to as high as ¥80,000 to ¥100,000. In some new buildings, room sizes have been reduced to fit in more units.
"This is a social problem that’s happening on the island as a whole," Takechan chief Takao Takeshima said. "I thought apartment demand would meet supply in two to three years, but now I can’t predict when the rent will settle down".