A large-scale redevelopment is underway around Koiwa Station in Edogawa Ward, Tokyo. Construction of redevelopment buildings is planned at both the north and south exits, with an expected expansion of rental demand. This article analyzes the details of the redevelopment and future prospects from a rental investment perspective.
What Kind of City Is Koiwa?
Koiwa is a retro downtown area with easy access to Tokyo Station in about 17 minutes, known for its low living costs. While the arcade street has many restaurants and shops with high daily convenience, it had lacked a stylish atmosphere for young people.
Why Did Redevelopment Begin in Koiwa?
The weak transportation infrastructure at the north exit was the trigger for redevelopment. While the south exit had a rotary and 8 bus routes concentrated there, the north exit had only one-way narrow roads that were difficult for people to gather. Deliberations on redevelopment began in 2011.
What Are the Area-Specific Redevelopment Plans?
Koiwa Station South Exit
Staged redevelopment is underway in the Minamikoiwa 7-chome and 6-chome areas. Improved circulation through ring road maintenance and mixed commercial/residential development are progressing.
Koiwa Station North Exit
The north exit street is being widened from 9m to 18m, with a station plaza being constructed. Securing bus and taxi entry points, with construction of high-rise condominiums and shopping facilities planned. Expected completion in fiscal year 2029.
Minamikoiwa 6-chome Area
FIRSTA Koiwa has been completed with restaurants, pharmacies, and medical facilities moving in. Construction of 22-story and 33-story buildings is also underway.
How Will Rental Demand in Koiwa Change in the Future?
With improved living environment through redevelopment, expansion of rental demand is expected. In Edogawa Ward, about 40% of the population are single-person households, and data shows 90% of those under their 30s live in rental housing, making it an area to watch alongside market trends for prime Tokyo properties.
FAQ
Q. When will Koiwa's redevelopment be completed?
The north exit area is scheduled for completion in fiscal year 2029. The south exit area is also progressing in stages, with different schedules for each area.
Q. When is the right time to start rental investment in Koiwa?
The current stage before redevelopment completion is relatively affordable and easy to enter. After completion, land prices and rents are expected to rise.
Q. Will Koiwa's public safety improve?
With urban development through redevelopment and resident turnover, improvement in public safety is expected.
