Condo towers 20 stories or higher are going up or will in central Nagoya this year as dwindling land prices driven by the 2008 financial collapse revitalize the depressed market.
On Jan. 27, Shimizu Corp. announced it would build a 29-story condo complex next to Higashi Betsuin Station on the Meijyo subway line and open units for sale from May.
"It is impossible to set the same high price as that in the peak of 2006, when developers enjoyed brisk sales, but the sales climate this year is brighter than last year. The highest-priced unit will be around ¥100 million," said Yoshinori Motoyama, an investment and development project manager at Shimizu.