Quake-traumatized Japanese shun condos
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The Tohoku Earthquake of March 2011 had a not entirely surprising effect – the Japanese are now more nervous of condos, and their prices have fallen sharply.
In addition, demand has shifted from waterfront locations to inland areas.
The aftermath of the quake
On March 11, 2011, the coast of Tohoku region was struck by a 9.0 magnitude earthquake, the world’s 4th most powerful earthquake ever recorded. It was followed by a tsunami which devastated cities and farmlands, and triggered a radiation leak in the Fukushima Daiichi power plant.
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