Iran Situation Impacts Japan, High-Rise Apartment Handover May Be Delayed

US-Iran War Key News

(Central News Agency, Tokyo 13th, comprehensive foreign report) Several major Japanese real estate companies, considering concerns that changes in the situation in Iran might affect the procurement of building materials and equipment, have notified customers that the handover of newly constructed high-rise apartments may be delayed.

NHK reported today that in the residential sector, materials such as wallpaper, tiles, adhesives, and paints are often made from petroleum products.

Although major Japanese real estate companies currently do not have supply chain issues, concerns have arisen that the situation in Iran could affect raw material procurement. For example, Mitsubishi Jisho Residence and Mitsui Fudosan Residential have, since mid-April and late April respectively, notified customers in writing and other means that the handover of newly constructed high-rise apartments may be delayed.

At the same time, these two companies also informed customers that internal equipment specifications might also change.

In addition, other real estate companies such as Tokyu Land Corporation and Tokyo Tatemono have also informed customers of possible handover delays.

Sumitomo Realty & Development and Nomura Real Estate stated that they currently do not have any new properties nearing handover that are expected to be delayed, and will promptly notify customers if such properties arise in the future.

The companies pointed out that although there have been no actual cases of handover delays so far, under the current circumstances, they judged that many homebuyers were worried about whether they could move in on schedule, and therefore decided to notify customers in advance. (Compiler: Yang Wei-ching) 1150513

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