Crowdfunded Tokyo condos appeal with 5% yield

Tokyo

TOKYO'S crowdfunded condominiums are luring individuals with the promise of a 5 per cent yield in a land of benchmark interest rates near zero out to five years.

Tatsushi Iwano, a former fund manager at Goldman Sachs Group Inc in Tokyo and Rockpoint Group LLC, is aiming to finance 10 billion yen (S$117 million) of office and residential projects with cash raised on the Internet in 2017.