Buying a Property in Tokyo | Edogawa Chapter 2: Hirai, Chuo & Tobu

In this “Buying a Property in Tokyo”’ series, we will introduce the environment of Tokyo’s wards with high yields, as well as their market performance and forecast. Let’s explore property investment opportunities in Tokyo!

Following Kasai and Koiwa, this time we will introduce the other three sub-areas in Edogawa, namely Hirai, Chuo, and Tobu. The JR Sobu Line connects Hirai and Koiwa. The Toei Shinjuku Line runs through Hirai to Tobu, including Hirai Station and Higashioshima Station in Hirai, Funabori Station and Ichinoe Station in Chuo, and Mizue Station and Shinozaki Station in Tobu, providing direct access to Shinjuku.

Related Article: Top 10 Tokyo Wards with Highest Rental Yields of Existing Properties in 2020

Hirai Redevelopment Plan; Oshima Komatsukawa Park Surrounding Higashioshima

The vicinity of JR Hirai Station is positioned as one of the core areas of Tokyo’s new urban development. It is adjacent to Kinshicho and Kameido which are close to the city center, and therefore is regarded as an area with convenient transportation to the city center. There are iconic shopping streets from both the North and the South sides of the station. Yet due to the early commercial development, buildings are aging and no longer meet requirements for disaster prevention. In addition, compared with the other sub-areas of Edogawa, Hirai has a larger number of the elderly and a smaller number of young generations. Hence, the Edogawa City Government intends to foster urban culture and entertainment through urban development projects, raise the commercial value around the station by improving commercial facilities, and create an area that is suitable for both living and working.

Higashioshima, another station in Hirai, is a green and safe area. It takes a few minutes to walk to Oshima Komatsugawa Park from the station. Oshima Komatsugawa Park is a large park spanning Koto and Edogawa wards. It is also a popular spot to see cherry blossoms in Spring and hydrangeas in Summer. Besides the park, the annual fireworks launched in Koto near the Kasai Bridge on the South side of Higashioshima is also an attraction to families with children.

Image source: The Seven Parks of East Tokyo Website

Funabori Station is A Semi-express Stop; Cherry Blossom Bloom in Shinkawa

Among the stations along the Toei Shinjuku Line in Edogawa, Funabori Station is the only one semi-express station. It takes about 20 minutes to reach Shinjuku. There is a complex entertainment facility called “Tower Hall Funabori”. It has a cinema and theatre as well as an observation room for railway fans to gather and enjoy the moments of trains entering the platform and crossing the street. The night view from the Tower Hall is also stunning! Since the area provides sufficient living and entertainment facilities, residents find it convenient and can save transportation time to other areas. What’s more, there is a 1500m long green promenade called “Green Road” at the North exit of the station. Many seasonal plants such as azaleas, ginkgo trees, and osmanthus are planted along the road.

Photographer: Takahiro Hashimoto

With the provision of comprehensive bus routes in Funabori, it is also convenient to take a bus in addition to the railway. In terms of safety, the station area is quite crowded even at night, so people do not worry about going home late at night. Although the law and order is generally good, the Police Department data show that Funabori has relatively more bicycle thefts than other sub-areas in Edogawa. Therefore, the Edogawa City Government has been actively implementing anti-theft measures.

There is a canal called “Shinkawa” between Funabori and Kasai, which was dug as a canal connecting the rivers under the order of Tokugawa Ieyasu during the Edo period. It is also one of the scenic spots for cherry blossom viewing, named Shinkawa Senbonzakura. There are about 700 cherry blossom trees along the canal, which are about 3km long.

The other main station in Chuo is Ichinoe Station. Compared with other stations in Edogawa, Ichinoe Station has fewer facilities and new shops. It is also quite sparsely populated so it is said to be a little-known area recommended for those who look for cheap rent and a quiet living environment. Moreover, there are direct buses to Narita Airport, Haneda Airport and Tokyo Disneyland in front of the station, which is especially convenient for people who often travel abroad.

Close up Edogawa Fireworks in Tobu’s Mizue and Shinozaki

Mizue Station and Shinozaki Station are the main stations in Tobu, which are close to Edogawa River. Every Summer people gather there to enjoy the spectacular Edogawa Fireworks Festival.

Don Quixote, major supermarkets, drugstores, and 100 yen stores providing daily necessities can be found near the two stations. There are plenty of cake shops, cafes as well as restaurants for low-priced meals, luring many tenants looking for cheap rent. Regarding safety, as there are many izakayas near Mizue Station, there may be some noise problems at night, but residents generally feel that it is a safe area to live.

Property Valuation, Estimated Rent ＆ Rental Yield Reference

According to real estate transaction data from the Ministry of Land, Infrastructure, Transport and Tourism, in 2020, the prices of existing properties around Funabori Station rose by about 12% year-on-year, while Shinozaki Station increased by about 5% year-on-year. In contrast, Hirai, Ichinoe and Mizue Stations all fell about 4%. The following existing property market information of Hirai, Chuo and Tobu in Edogawa are based on the estimates provided by the Proptech company PriceHubble based on its A.I. valuation model*.

The property criteria set include property age of 10 years and 30 years, property size between 30m² and 70m² and an around a 5-minute walk from the railway station.

* based on the estimate results as at June 22 , 2021

Click to check out estimated rental yields of Koiwa and Kasai in Edogawa

Next, we will bring overseas investors to learn about living in Adachi, another ward of Tokyo, and exploit any potential property investment opportunities together!

About PriceHubble
PriceHubble is a Swiss B2B proptech company that builds innovative digital solutions for the real estate industry based on property valuations and market insights. Leveraging big data, cutting-edge analytics and great visualization, PriceHubble’s products suite brings a new level of transparency in the market, enabling their customers to make real estate and investment decisions based on the most accurate data-driven insights (such as valuations, market analyses, value forecasts or building simulations) and enhance the dialogue with end consumer. PriceHubble’s digital solutions are designed to help all players across the entire real estate value chain (banks, asset managers, developers, property managers and real estate agents). PriceHubble is already active in 9 countries including Switzerland, France, Germany, Austria, Japan, and the Netherlands and employs more than 130 people worldwide.

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WealthPark is a real estate technology company that provides online and offline asset management services for overseas investors with properties in major cities of Japan, including Tokyo, Osaka, Yokohama, Nagoya, Kyoto, Fukuoka, and Sapporo.
WealthPark partners with real estate brokers and technology companies in order to provide
investors with comprehensive asset management and property transaction services.
WealthPark will continue to expand its digital platform to create and improve user experience.

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