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“Home Funding” is the least considered among retirement and education, but prepared cost is highest, averagely 21.19 million JPY in Japan

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TOKYO, Sept. 6, 2021 /PRNewswire/ — A result of survey was announced by one stop real estate platform service “RENOSY” provided by GA technologies Co.,Ltd. (Headquarters: Minato City, Tokyo; CEO: Ryo Higuchi; Securities Code: 3491; “the Company”) regarding “Financial Assets Plans & Housing” among families with annual income of more than 10million JPY with children under schooling age living in major districts of Tokyo.

According to the research, “home funding” is the least considered among “retirement fund” and “educational fund”, although these funds together are said to be the 3 major funds in life in Japan. “Lack of adequate knowledge regarding this field” is the answer that has being most frequently answered as the reason. On the other hand, however, home funding costs the most among the 3 major funds when it comes to preparation. People who are planning about spending on real estate usually see it as an investment for oneself and tend to pay more attention to the market price of the real estate property itself and the timing for sell.

Along with the research result, we are looking for providing a more sophisticated service that integrates online and offline elements together for a more elaborate customer service of RENOSY. We want to make experience regarding real estate less complicated by solving all kinds of issues and concerns customer may have (*2).

Research on Attitudes of Asset Building and Housing in JAPAN

[ Result Summary ]
1.“Home funding” is the least considered among the 3 major funds in a person‘s life
2.“Lack of adequate knowledge” is the most frequented given answer as a reason
3.“Home funding” average preparation fund cost is 21.19 million JPY
4.People who are planning to spending on housing, tend to pay more attention to its market value as an investment and the timing for sell

Outline of the research

Research period: July 19, 2021July 21, 2021
Research method: Online questionnaire
Research target: families with annual income of more than 10million JPY with children under schooling age living in major districts of Tokyo. / Both male and female / Age 25 – 45 / Total 550 people

Details

1. “Home funding” is the least considered among the 3 major funds in a person‘s life

“Retirement”, “education”, “home” funds are said to be the 3 major funds in life. While more than half of the people being researched answered positively of making plans about “retirement” and “educational “funds. However, there are 27.1% answered with “No plan” when it comes to “home”. Together with the people who answered with “Considered, however have not taking any initiative yet” which accounts for 40% of the total.

2. “Lack of adequate knowledge” is the most frequented given answer as a reason

The reason that has been given most frequently of why people tend to skip the planning for home funding, is because of “Lack of sufficient knowledge” which accounts for 27%, followed by “Having savings in the bank is enough for me” which is 22.3%. Other reasons such as “Already own a real estate property”, “Already have a plan for housing loan”, “No further plan for buying a new house” etc. are also given.

3. “Home funding” average preparation fund cost is 21.19 million JPY

When being asked about the specific amount of fund prepared for housing among people who answered positively, the number rounded up with an average of 21.19 million JPY which is also the highest among the 3 categories.

4. People who are planning to spending on housing, tend to pay more attention to its market value as an investment and the timing for sell

From the result of the research, people who are planning about buying a house of their own tend to view the property as an investment and showing higher interests in the price value of the property and the timing for sell compared to those who are not making any plans regarding purchasing a house.

(4-1) When being asked about “Whether if you prefer to be able to keep up with the assessment information about your owned property (*3)?” 62.5% of people who are making financial plans for housing answered, “Very much”, “Do think about that” compared to 32.6% of people who do not have any plans regarding purchasing a house.

(4-2) When it comes to the question where “Are you interested in using AI to do a simulation of the assessment on the property you currently owned (*3)?” 61% of people who are making financial plans for housing answered, “Very much”, “Do think about that” compared to 30.5% of people who do not have any plans regarding purchasing a house.

(4-3) While when being asked about “Are you interested in selling the property you owned(*3) with a price other than the one being calculated and suggested by AI simulation?” 40.1% of people who are making financial plans for housing answered, “Very much”, “Do think about that” compared to 17.4% of people who do not have any plans regarding purchasing a house.

(*1) The so called 3 major funds in a person’s life is as followed: “Home funding”, “Retirement fund” and “Educational fund”

(*2) Related press release: RENOSY: Checking up your property’s market price by AI assessment and more on RENOSY (https://www.ga-tech.co.jp/news/10067/)

(*3) Property purchased not by oneself also included

About RENOSY OWNER‘S MY PAGE
This is an exclusive service for RENOSY members (Memberships are FREE). By applying AI technology, we make all the information such as ” estimated market price”, “estimated price for rent” and the fluctuations visualizable. Users who are planning about selling or renting the property could access the information on “OWNER’S MY PAGE”. On the other hand, for those of whom are interested in real estate investment can check up the latest updates about live streaming announcements about assets management and property investment as well as scheduling appointments with our agents. We offer our customers the most useful information that suits with one’s needs and condition.

About RENOSY
RENOSY is a comprehensive one-stop real estate platform provided by GA technologies under the concept of “making house hunting and assets management easier”. With the business vision of “inspiring the world with the power of technology and innovation”. The purpose of RENOSY is to make everything about real estate easier for consumers in the field of “rent”, “buy”, “sell”, “lease”, “renovate” or “invest”, and we provide these services in one-stop. Currently, we have about 20,0000 registered members, and more than 15,0000 existing properties in the center of Tokyo available on our website. GA technologies is working on helping to accelerate the digital transformation of the industry, and to provide a better customer experience through both online and offline.
– Data of the number of RENOSY members: by June 2021 / Data of the number of properties available on the website: by October,2021

About GA technologies
Company: GA technologies Co., Ltd.
Representative: Ryo Higuchi
URL: https://www.ga-tech.co.jp/en/
Head office: 40F of Sumitomo Fudosan Roppongi Grand Tower, Roppongi 3-2-1, Minato District, Tokyo
Year of founding: March 2013
Capital fund: 72,859,98310 JPY (As of July 2021)
Services:

  • PropTech real estate services platform: RENOSY (Portal media, Real estate agent service, real estate dealing, renovation service, property management)

  • SaaS type of BtoB PropTech products development

  • Data research and analysis using AI

  • Overseas real estate platform service targets at the Greater China area: Shenjumiausuan, overseas PropTech business

Major group companies: ITANDI, Inc, Modern Standard Co, Ltd., Shenjumiausuan Co.,Ltd and other 8 companies

GA technologies (PRNewsfoto/GA technologies Co., Ltd.)

Cision

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SOURCE GA technologies