The word-of-the-day is:

Hanbai Kakaku

販売価格, はんばいかかく

• English definition: Asking price or list price of a property
• The asking price is the advertised price of a property that is being listed for sale.
• In Japan, there are four basic factors that go into setting the asking price for newer construction:
  1. Determining the value of the land on which the property is located. In Japan, 70% to 80% of the value of a property resides in the actual land on which the property sits.
  2. Estimating the cost of new construction. Due to labor and materials shortages, construction costs have been soaring in Tokyo in the last few years.
  3. Determining the cost of advertising and selling the property.
  4. Deciding whether it’s possible to make a profit on the sale and how much.
• Of course, it’s also important to know how much comparable properties recently sold for.
• For these reasons, a seller’s agent can give you invaluable insight into how to maximize your selling price, help you present your home or investment property in the best light to buyers (for example, by staging the property, advertising it on the right platforms and using the right photos and property description).