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Average discount of an apartment sold in 2016

Average discount of an apartment sold in 2016

According to Tokyo Kantei, in 2016 approximately 40% of second-hand apartments in the greater Tokyo area sold within a month of listing, and at an average discount of 3.00%. Two-thirds of apartments sold within the first three months of being listed. Almost a third of the apartments that sold within a month of being listed…

Tokyu acquires Kyu-Karuizawa Hotel

Tokyu acquires Kyu-Karuizawa Hotel

Tokyu Fudosan Holdings has acquired the Kyu-Karuizawa Hotel for an undisclosed price at the end of March. The seller was an offshore company. Tokyu is expanding into the luxury hotel market in anticipation of growing demand from foreign tourists. They are also planning to open a hotel in Okinawa in a joint venture with NTT Group….

Real estate investors: Beware of sales talk

First-time property investors across Japan are starting to find themselves with poor performing investments that don’t meet what they were promised by salespersons. Despite cashflow-positive claims made at investor seminars, some buyers are finding out that their rental property is running in the red, which means they pay cash out of their own pocket each month…

Yuzawa’s resort condo market facing unique issues

Yuzawa’s resort condo market facing unique issues

Almost 20% of Japan’s resort apartments are located in the ski resort area of Yuzawa in Niigata Prefecture. The town has 58 resort apartment buildings containing approximately 15,000 units. Yuzawa also has the highest percentage of apartments as a share of total households nationwide, with 4 times as many apartments as registered households. These resort apartments…

Second building in Yokohama to be rebuilt due to faulty foundations

Second building in Yokohama to be rebuilt due to faulty foundations

On April 30, apartment owners in a 262-unit residential complex in Yokohama voted in favor of redeveloping the five buildings after it was discovered that the foundations were not sunk deep enough. Back in 2013, residents noticed that one of the buildings was starting to lean after handrails between two buildings were out of alignment….

Buyers guide: Understanding floor sizes for apartments, houses and land

Buyers guide: Understanding floor sizes for apartments, houses and land

To ensure consistency, the Real Estate Transactions Act has rules that real estate companies must follow when displaying property floor sizes on advertisements and in contract documents. Why does it matter? Some tax breaks have size restrictions, and these sizes will be based on different methods of measurement. The home loan tax reduction, which allows a…

2.2 Traditional machiya houses in Kyoto are demolished each day

2.2 Traditional machiya houses in Kyoto are demolished each day

Kyoto City is losing its traditional machiya townhouses at an alarming rate, with an average of 2.2 of these symbolic houses demolished each day. On May 1, Kyoto City announced that approximately 5,600 machiya have been demolished over the past seven years. In 2016, a survey found that there were 40,146 surviving machiya in the…

Construction to start on Foretseine Motoazabu 2 Chome project in July

Construction to start on Foretseine Motoazabu 2 Chome project in July

Mori Trust is developing a luxury apartment building atop the Motoazabu neighbourhood in central Tokyo. Takenaka Corporation, one of Japan’s top construction giants, will start construction on Foretseine Motoazabu 2 Chome in July 2017. Completion is due for the end of December 2018. The 5-storey building will have just 17 spaciously sized apartments. This project…

Tokyo Apartment Sales in April 2017

Tokyo Apartment Sales in April 2017

The following is a selection of apartments that were sold in central Tokyo during the month of April 2017:

91-yr old condo-conversion in Tokyo blends old with new

91-yr old condo-conversion in Tokyo blends old with new

Nestled down in a quiet and hidden location in Tokyo’s Hongo neighbourhood is a 91-year old building that was converted into condominium-type apartments several years ago, making it the oldest apartment conversion project in Japan. The Kyudo Gakusha was built in 1926 as a student dormitory. It was designed by architect Goichi Takeda (1872-1938) and…

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