What Has Changed in the Used Renovation Housing Market Over the Past Decade? cowcamo Looks Back on 10 Years and Analyzes Home Searching in 2035

Tsukuruba Inc. (Headquarters: Shibuya-ku, Tokyo; Representative Director: Shuntaro Nomura), which operates the used and renovation housing platform "cowcamo," has released special content reflecting on market changes over the past decade and looking ahead to home searching in 2035, based on the insights accumulated over its 10 years of service.

When cowcamo launched in 2015, "renovation" was a niche option chosen by a select group of housing enthusiasts. However, it has now evolved into a common choice for many urban dwellers to purchase a used apartment and renovate it to their liking.

This content synthesizes the changes of the past decade and the perspectives needed for future home searching, drawing on cowcamo's operational expertise accumulated over 10 years as it grew to 600,000 registered members and over 3 million annual users, as well as interviews with top agents supporting clients on the front lines and comments from experts.

What Will the Next Decade Bring? cowcamo's Three Predictions for Home Searching in 2035

cowcamo's top agents were surveyed about housing market and home searching changes in the Tokyo metropolitan area over the next decade. Based on the realistic predictions of agents who have closely supported clients in their home searches, we explore three major trends that will shape the future of housing.

Prediction 1: From "Once-in-a-Lifetime" to "Move-in-Ready" Home Purchases

While the mindset of "living in a purchased home for a long time" was once common, the next decade is predicted to see a further normalization of purchasing with the "intention to move" to flexibly reassess housing based on life stage changes such as child-rearing and work styles.

Agent Voices

"Buying a home that is 'half-residential, half-investment' and living in it. Purchasing with the premise of moving, not living there forever. I believe even more people in their 20s will buy homes."

"The shift is towards buying in a way that leaves future options open, rather than with the premise of 'living there forever.' Buying a home seems to be changing to buying a 'base for living.'"

Prediction 2: "Individuality" and "Building Maintenance Status" Become More Important Than Specifications

As properties meeting all criteria such as distance to station, size, and age decrease due to soaring property prices and interest rates in the Tokyo metropolitan area, home searching criteria will also change. Instead of seeking perfect specifications, there will be an increased focus on organizing "what is truly important for our lifestyle" and on the "maintenance status" to preserve asset value.

Agent Voices

"We are moving from an era of 'owning' new things like new construction to an era of 'editing (arranging)' owned assets. In the future, in addition to the enjoyment of living, there will be a demand for 'maintaining owned assets' and 'systems that are easy to intervene with for sustainability,' and I believe there will be more transactions where used apartments are treated as one's own assets."

"More than the age of the building itself, the view that emphasizes 'how the building has been nurtured/how it can be nurtured going forward,' such as its maintenance status, repair history, and the potential for ongoing improvements, will become more commonplace. Home searching that organizes what is important for one's own life, rather than seeking the 'correct' specifications, will become crucial."

Prediction 3: "Liquidity" and "Management" Will Be Keywords for Popular Properties in 2035

Keywords for properties that will be chosen in 10 years include "flexibility" to adapt to change, "liquidity" for easy resale, and reassuring "community and management."

Agent Voices

"A home that is just right for now and for the next (a home that is secure even when selling)."

"A home that leads to the next stage of life." Rather than a "finished product for permanent residence," perhaps a home that is a "base that can be updated according to life changes" will be more popular in 2035.

"Properties with high liquidity (e.g., accessible by multiple train lines)."

"Large-scale condominiums, good maintenance status, and a sense of security with a community."

cowcamo's 10 Years: The Decade When Used Renovation Apartments Became "Normal"

cowcamo launched its service in June 2015 and will celebrate its 10th anniversary in 2025, with the finale of its 10th-anniversary year starting in July 2025 and concluding in June 2026.

At the time of the service's launch, the word "renovation" resonated as a special option, like meticulously remodeling an old house or detached house. In fact, cowcamo magazine's first article featured someone who renovated a used detached house themselves. However, over the past decade, buying a used house and renovating it to live in, especially in the used condominium sector, has become established as a "normal" option for urban dwellers.

cowcamo has also grown into a service with 600,000 registered members and over 3 million annual users over the past 10 years. The user base has expanded from primarily those in their 30s to include families and those in their 50s, and used renovation housing has become established as a housing search option for a wide range of generations.

The number of registered members has surpassed 600,000, and the platform has grown to over 3 million annual users.

Evolution of Renovation Trends

Around 2015, renovation design was led by the design of commercial facilities like cafes. Trends included exposing concrete ceilings to showcase textures and adding warmth with wooden floors and furniture.

Article from cowcamo magazine at the time (Article here)

Article from cowcamo magazine at the time (Article here)

Subsequently, styles gradually became more specialized, incorporating overseas trends like Brooklyn and Industrial, allowing for more personal preferences to be reflected. Currently, the biggest trend in design is "the absence of a specific mold."

Requirements like "interior windows," "spacious living/dining rooms," and "large entrance halls (doma)" for living flow, as well as performance aspects like double-glazed windows and insulation, are now standard requirements. This era has arrived where individual lifestyles and preferences are strongly reflected.

CASE: What About Those Who Bought a Home Through cowcamo 10 Years Ago?

▲ The room from 10 years ago ▲ The current state of the room. The trees visible from the balcony remain lush and green. The furniture has been rearranged to suit the lifestyle of a family of four.

It has been 10 years since cowcamo's service began. We interviewed Mr. T (40s, company employee), who was the commemorative "first contract holder" at the time, about his memories. He shared that the appeal of his decision from 10 years ago has not faded even after living there for a decade. We delve into his home search experience at the time.

Details can be found in a cowcamo magazine article (here)

Encounter with cowcamo

"At the time, I was renting and considering buying a used condominium as my child was about to be born. The term 'renovation' was just starting to emerge then, and I decided to buy a used condominium and renovate it myself, so I searched online for renovation companies. I happened to come across cowcamo, and what impressed me most was the overwhelming 'sizzle' of the photos and the quality of the articles. It felt more like 'reading a magazine' than searching for a property, and I looked at it every day."

A Decision Made in "Love at First Sight"

"The current property is in an area I was familiar with, and the interior photos were exactly to my taste. The moment I found it, I immediately inquired. My wife viewed it first and said, 'It was so good, go ahead and sign the contract,' which prompted me to view it as well. Seeing it in person, I also felt it was good and made an instant decision. The deciding factor wasn't specifications or asset value, but rather the intuitive feeling that it fit our image of living."

Living There for 10 Years

"10 years ago, I decided on this place because I was attracted to the greenery visible from the balcony and the atmosphere of the condominium's common areas, and that appeal hasn't changed even after a decade. I've made small improvements myself as our life stages have changed, and my family of four is living happily."

【Special Contribution】The Future of Existing Home Circulation and the Future We Want to Create for the Next Decade

【Comment from Manjo Shimabara, Director of LIFULL HOME'S Research Institute】

In the past decade, the renovation market has seen rapid growth in "packaged renovations" through the resale business, driven by soaring new construction prices and the expansion of the used market. However, the next decade towards 2035 is expected to mark a major turning point with the maturation of the market.

There are two main points for the future. First is the expansion of renovations for "existing detached houses." To truly embody a stock-based society, revitalizing the circulation of detached houses, which account for 70% of Japan's housing stock, is essential, and there is indeed a significant latent user need. Second is the evolution of condominiums in the resale market. As the market expands and competition intensifies, the diversity of users seeking renovated condominiums is increasing, requiring differentiation. While the mainstream in this market has traditionally been properties with universal designs that compete on location and price, we predict an increase in properties with unique characteristics and proposals that delve into the lifestyles of residents, such as 'we want this kind of person to live this way.'

In the next 10 years, industry competition will mature the industry itself, leading to greater individuality. This will be important not only in design but also in terms of "performance," including the installation of interior windows, as the industry matures.

【Comment from Hirofumi Uchiyama, Chairman of the Renovation Council / Representative Director of u.company inc.】

It has been 17 years since the establishment of the Renovation Council, and renovation is now widely recognized, and social infrastructure has been developed. However, the past decade, with its rapid market surge, was an era where profits could be made even with "resale" that was close to simple resale, and there were aspects that could not be called true renovation.

The next decade is an era to fundamentally re-examine its significance. The Council aims to realize a sustainable circular society where everyone can live their own unique lives by promoting "renovation from 'demolishing' to 'utilizing' as a Japanese culture" with its new vision.

Tsukuruba Inc. has the power to make spaces creative. "cowcamo" is a platform that can deliver precisely this kind of unique lifestyle, and we have high expectations for it. Let's build it together with the Council. Congratulations on your 10th anniversary!

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Over the past decade, used and renovation housing has transformed into one of the options for "realizing one's own lifestyle."

In the next decade, the value sought in housing is expected to expand from "ownership" to the flexibility of choosing, nurturing, and moving to new homes in accordance with life stages and changing values.

cowcamo will continue to support home searches that align with each individual's "desired lifestyle," while observing changes in the housing market and the lives of its residents.

What is cowcamo?

cowcamo is a distribution platform for used and renovation housing with the concept of "Let's encounter a 'one-of-a-kind' home." Through a media that allows users to enjoy searching for properties while imagining their lives, and agent services that support property buying, selling, and renovation, it provides end-to-end support for "searching, buying, creating, selling, and moving" used and renovation housing. "Desired lifestyles" are unique to each person. The service aims to realize a world where each individual can obtain their own unique lifestyle and live happily.

cowcamo: https://cowcamo.jp/

Inquiry URL: https://cowcamo.jp/contact

Tsukuruba Inc.

Under the VISION of "Freely 'possessing' homes. 'Changing' homes as many times as desired," the company is engaged in business to transform the housing distribution structure to be customer-centric. By combining design and technology, it aims to evolve homes from constraints in life to options that expand possibilities, realizing a society where everyone can achieve their unique ideal lifestyle.

https://tsukuruba.com/

Company Name: Tsukuruba Inc. (Tokyo Stock Exchange Growth, Securities Code: 2978)

Location: Ebisu SS Building 7F, 4-3-14 Ebisu, Shibuya-ku, Tokyo

Established: August 2011

Representative: Shuntaro Nomura, Representative Director & CEO

Business Activities: Planning, development, and operation of the marketplace-type distribution platform for used and renovation housing "cowcamo" (https://cowcamo.jp/), planning, development, and operation of the matching service for home sellers and buyers "Urucamo" (https://cowcamo.jp/urucamo/), etc.