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How to Read the High-Rise Condominium Investment Suitability INDEX
An index for comparing units currently for sale across five dimensions. It is a relative assessment comparing units with one another, not an absolute score.
The TOWERS SELECT INVESTMENT INDEX is a relative assessment comparing units currently for sale across five dimensions: appreciation potential, value, asset quality, liquidity, and income potential. It is centered on 50 and does not guarantee future prices or returns.
What Is Being Compared
The index covers units currently for sale that have all information required for calculation. Units offered for rent and units in buildings that have not yet been completed are excluded.The latest calculation date is 2026-10-21, covering 5,636 units.
| Appreciation Potential | Factors supporting price appreciation based on nearby land-value and transaction-price trends |
|---|---|
| Value | How attractive the current asking price is relative to the property's characteristics |
| Asset Quality | Factors supporting value, including location, scale, and supply |
| Liquidity | Ease of resale based on listing duration and competition within the building |
| Income Potential | Income potential from rental operation relative to the purchase price |
| Overall | A combined assessment of value, asset quality, liquidity, and profitability, with greater emphasis on appreciation potential |
How to Read the Figures
- Scores are relative assessments centered on 50. They are neither ratings out of 100 nor probabilities of price appreciation.
- “Top ◯%” indicates a unit's position among all units included on the same calculation date. A unit's position may change as units enter or leave the population.
- Units with the same score are treated as sharing the same position.
| Label | Position |
|---|---|
| Excellent | Top 10 percent |
| Good | Top 11–30 percent |
| Standard | Top 31–60 percent |
| Needs Consideration | Below the top 60 percent |
“Needs Consideration” means that a unit ranks relatively low among the included units; it does not mean that the unit has a problem.
Profitability Assumptions
Estimated cash flow uses standard assumptions of an annual interest rate of 3.0%, a loan-to-value ratio of 80%, and equal principal-and-interest payments over 35 years. It is the monthly rent adjusted for the assumed occupancy rate, less management fees, reserve fund contributions, loan payments, estimated fixed-asset taxes and similar expenses, and property management fees. For leasehold units, the repayment period is shortened according to the remaining lease term.
Units whose listings do not state management fees or reserve fund contributions are excluded rather than calculated using ¥0.
What This Index Cannot Tell You
- Rental and sale valuations are estimates as of the calculation date. They do not indicate the final transaction amount or future prices.
- The sale valuation is an estimate of the price at which a unit may sell. It adjusts the asking-price level derived from listings downward toward the level of official transaction prices in the same market area through the latest available quarter. Asking prices normally exceed sale valuations because they precede price reductions and negotiations. Relative value is determined by comparing asking prices with one another.
- The rental valuation is the monthly amount paid by the tenant, including management and common-area fees. It is calibrated to the rent levels of listings that have ended.
- The index does not reflect conditions that cannot be determined from listings, such as interior condition, views, building management, or repair plans.
- The calculation formula and the weighting of each dimension are not disclosed.
This analysis is for reference and is based on TOWERS.SELECT's proprietary scoring. It does not guarantee investment results. Make decisions based on your own due diligence and consultation with qualified professionals.
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