Hong Kong’s property elite are flying to Tokyo in August to snap up bargains as the yen weakens further.
The tour, organised by Hong Kong-based property brokerage JP Invest, follows a surge of inquiries about Tokyo property from hedge funds and ultra-wealthy clients keen to exploit the yen’s abrupt plunge to a 24-year low.
The $16,300 (£13,400) per person cost of the visit includes stays at the Aman hotel in Tokyo’s Otemachi business district and at the traditional Gora Kadan in the spa town of Hakone to the south-west of the city, as well as a seven-day hotel quarantine package in Hong Kong upon return. Meals include a booking at Sushi Yoshitake, the 13-seater, three Michelin star restaurant in Ginza whose $440 speciality is abalone in a sauce made from its own liver.
Participants in the elite package tour, who will be shuttled around the Japanese capital in a chauffeured Bentley and helicopter, are expected to focus on the post-pandemic pickings of the Tokyo property market. Cash-strapped hotels, built or refurbished ahead of the tourist-free Olympics that have lain largely empty for over two years, are expected to be of particular interest, said analysts.
