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Tokyo apartment asking prices in May 2017

Tokyo apartment asking prices in May 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment across greater Tokyo was 35,720,000 Yen in May, up 0.3% from the previous month and up 3.5% from last year. The average building age was 22.8 years. In the Tokyo metropolitan area, the average asking price was 48,220,000…

Average apartment rent in May 2017

Average apartment rent in May 2017

According to Tokyo Kantei, the average monthly rent of a condominium-type apartment across greater Tokyo in May 2017 was 2,633 Yen/sqm, down 0.8% from the previous month and down 1.1% from last year. The average apartment size was 59.94 sqm and the average building age was 20.2 years. In the Tokyo metropolitan area, the average…

Three arrested for fraudulent sale of land in Minamiazabu

Three arrested for fraudulent sale of land in Minamiazabu

Three men and women have been arrested for the alleged fraudulent sale of a 300 square meter block of land in Tokyo’s upscale Minamiazabu neighbourhood. According to the police department, the suspects forged the identity of the landowner and collected a 240 million Yen (approx. 2.15 million USD) payment from a buyer in early 2014….

New apartment supply in Tokyo hits 25 year low in May

New apartment supply in Tokyo hits 25 year low in May

According to the Real Estate Economic Institute, 2,603 new apartments were released for sale across greater Tokyo in May, down 5.0% from the previous month and down 13.3% from last year. This is the lowest supply for the month of May seen since 1992 when 1,617 apartments were released for sale. 1,880 apartments were sold,…

For Sale: Designer house within Shiba Park grounds

For Sale: Designer house within Shiba Park grounds

Price: 1 billion Yen (approx. 8.95 million USD) We have already started emailing our clients about this one, and are expecting that a property as unusual as this may not stay on the market for long. This contemporary freestanding home designed by internationally-renowned Kengo Kuma and located within the grounds of Shiba-koen Park is for sale. As many already…

Historic Atami Villa sold to developer

Historic Atami Villa sold to developer

On June 13 Mori Trust announced that they have acquired the historic holiday home of Taneji Yamazaki (1893-1983) in Atami City for an undisclosed price. Yamazaki was a successful businessman, founding several trading companies, including one which is now SMBC Friend Securities. In 1966 he founded the Yamatane Museum of Art in Tokyo, which was…

Over 22,000 public housing units across Japan contained asbestos

Over 22,000 public housing units across Japan contained asbestos

A survey by public broadcaster NHK has found that there were over 22,000 apartments in public housing complexes across Japan that were built with materials containing hazardous asbestos. From the findings, a professor from the Tokyo Institute of Technology has suggested that there is a possibility that as many as 230,000 former residents could have inhaled…

Luxury onsen resort planned for Nikko in 2019

Luxury onsen resort planned for Nikko in 2019

Tobu Railway and real estate developer HULIC have announced plans to open a luxury hot spring resort in Nikko that will cater to wealthy tourists. The tentatively-titled ‘Nikko Fufu’ resort is scheduled to open in 2019. The 14,000 sqm site is located on Tobu-owned land in the Tomozawa district in Nikko. It adjoins the 40,000…

Top 10 areas in Minato-ku with the highest increase in apartment prices

Top 10 areas in Minato-ku with the highest increase in apartment prices

Research company Mansion Market has ranked the top 10 addresses in Tokyo’s Minato ward that have seen the highest increase in apartment prices over the past 10 years. Five addresses recorded price increases of over 20%. In top place was Azabu Juban with an average increase in price of 27.1%.

Tokyo apartment sale prices increase for 56th month in a row

Tokyo apartment sale prices increase for 56th month in a row

According to REINS, 2,983 second-hand apartments were sold across greater Tokyo in May, down 5.7% from the previous month and down 0.6% from last year. The average sale price was 31,730,000 Yen, down 2.2% from the previous month but up 6.1% from last year. The average price per square meter was 494,900 Yen, down 1.8%…

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