That'll Teach 'Em Lyin', Cheatin' Real Estate Agents

The Fair Trade Commission wagged its finger at real estate firms who give misleading names to their apartment developments. At first I thought there had been complaints from irate buyers who bought a "Mansion" only to find out that it actually an "Apartment", a "Heights", or even a "Co-op" (see below for definitions).

It turns out they wanted to crack down on those naughty developers who call their newest block of rabbit hutches "Grande Maison Ginza" when the property is actually 20 minutes' walk from there, in like, Hakozaki or something. There has been a lot of this going on.

So from January, you can only call it "Residence Yoyogi-koen No. 7" if it's within 300 meters of the actual park. You know, while they're at it I wish they'd do something about the "seven minute walk from XXX station" crap ! Seven minutes, my pony.

Japanese Apartment Names
Manshon ('Mansion') = Modern concrete apartment building over two stories, with elevator(s).
Apaato ('Apartment') = Smaller 2-3 storey apartment building with smaller units and no elevators, with wooden or light steel construction.
Koopo ('Co-op') = Similar to "apaato", usually small and sometimes with shared bathrooms.
Haitsu ('Heights') = Name given to many "manshon"(usu. older), "apaato" or "koopo"

Note: In the past many property names would follow the pattern of [Owner Name + Type] such as "Yamada Manshon", or "Ichiki Haitsu". Nowadays the trend is towards an [Image/Brand Name + Location] approach like "Dynacity Takanawadai", "Core Road Senri" and "Kyodo Residence", or to dispense with the location altogether, like "Casa May Hills".

Full Story : Nikkei, FTC Fair Trade Directive (PDF)

Japan Real Estate Blog
Tags : japan, real estate, property, investment, 不動産
公正取引委員会 公正競争規約 物件名称