Closure of Shibuya Station’s Exit After 2020 and Property Price in the Area
A rare movement for Tokyo – an exit of one of the most major stations in Tokyo is set to close by 2020. Shibuya Station, the 3rd busiest station in Japan with a daily passenger of 418,184, decided to close Shin-Minami Exit, an exit located at the southernmost part of the station after 2020. This move is attributed to the relocation of Saikyo Line and Shona Shinjuku Line’s platform. Currently, the platform is located 350m away from Yamanote Line’s platform – forcing the transfer passengers to walk 10 minutes to transfer.
The company has been eyeing for an solution and relocation of Tokyu Toyoko Line’s Shibuya Station to underground in 2013 allowed JR to utilize the space to align two sets of platforms.
Will it affect the property price of Shin-Minami Exit area? Probably not so much – the area is still at the center of the center. From a renter’s perspective – slightly, yes. The walk to the station is slightly longer now – discouraging some of train commuters.