Top house flippers in Japan’s real estate market

IntAoyama
Intellex’s Aoyama Renovation Studio

The Remodelling Business Journal published a ranking of the top property flipping real estate companies in Japan. These companies specialise in buying up second-hand homes and apartments, renovating them, and then reselling them to individual buyers.

In top spot was Gunma Prefecture-based Katitas Co., Ltd, with 3,034 re-sales over the past 12 months. Apartments only made up 5% of their properties traded, with the majority of sales being detached houses in regional areas. The average property was sold for 13,000,000 Yen (approx. 126,000 USD), and the average age of the property was 32 years. The company focuses on updating the bathroom and kitchens, as well as expanding car parking spaces in the properties they flip. They also conduct termite spraying and include a 5-year pest control warranty on the homes they sell.

Renovated homes by Katitas Co., Ltd.
Renovated homes by Katitas Co., Ltd.

In second place was Osaka-based home builder Fuji Corporation Limited, with 1,518 re-sales. 80% of their properties were apartments. The average property was sold for 17,420,000 Yen (approx. 169,000 USD), and the average age of the property was 20 years.

Renovated properties by Fuji Corporation Limited.
Renovated properties by Fuji Corporation Limited.

In third place was Tokyo-based Intellex, a specialist flipping company. The company provides a warranty of up to 10 years on their renovation work. They focus on major urban centres, but have started to expand to regional areas including Sapporo and Fukuoka from 2013 onwards.

Renovated apartments by Intellex
Renovated apartments by Intellex

The Rankings

[1] Katitas Co., Ltd. – 3,034 sales
Average price:
Apartment ratio:
Average property age:
13,000,000 Yen
5%
32 years
[2] Fuji Corporation Limited – 1,518 sales
Average price:
Apartment ratio:
Average property age:
17,420,000 Yen
80%
20 years
[3] Intellex – 1,393 sales
Average price:
Apartment ratio:
Average property age:
23,420,000 Yen
100%
23 years
[4] Daikyo Group – 1,236 sales
Average price:
Apartment ratio:
Average property age:
23,800,000 Yen
100%
26 years
[5] Total Estate, Ltd. – 860 sales
Average price:
Apartment ratio:
Average property age:
30,000,000 Yen
100%
27 years
[6] e’grand Co., Ltd. – 850 sales
Average price:
Apartment ratio:
Average property age:
19,650,000 Yen
70%
20 years
[7] Reprice Co., Ltd. – 726 sales
Average price:
Apartment ratio:
Average property age:
16,300,000 Yen
70%
18 years
[8] FJNext Co., Ltd. – 702 sales
Average price:
Apartment ratio:
Average property age:
N/A
100%
N/A
[9] Haseko Real Estate – 586 sales
Average price:
Apartment ratio:
Average property age:
22,000,000 Yen
100%
28 years
[10] Star Mica Co., Ltd. – 540 sales
Average price:
Apartment ratio:
Average property age:
25,000,000 Yen
100%
24 years

Source: The Remodelling Business Journal, June 28, 2016.

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