Average apartment resale price across greater Tokyo down 8.5% over past 10 years

Last month, Tokyo Kantei released their annual report on resale values of apartments across greater Tokyo. The resale values, ranked by train station, represent the change in the value of an apartment in the 10 years following its construction.

It is important to note that 2007 was during the lead up to the last mini-bubble, which peaked in 2008. Areas that have seen an increase in resale values over the past 10 years tend to be in central Tokyo, particularly within the Yamanote Loop line, and in surrounding areas such as the bayside islands, Kawasaki and Yokohama. Meanwhile, Western Tokyo and surrounding prefectures performed poorly in the rankings.

Nagoya’s most expensive rental apartments to arrive in 2019

A 28-storey rental apartment building under construction in Nagoya’s Sakae neighborhood is set to become the most expensive building the city has seen. The most expensive apartments in the 156-unit building are two 253 sqm (2,722 sq.ft) 3-Bedroom units on the 27th floor each with an advertised rent of 1,641,000 Yen per month (approx. 15,000 USD). The two apartments include their own 12-seater dining room with a separate entrance.

Japan Property Price Index for April 2018

On July 25, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the Japan Property Price indexes for April and for the first quarter of 2018. Japan’s Residential Property Price Index in April was up 2.3% from the previous year, while residential land was down 0.6%. Detached homes were up 0.9%, while apartments were up 4.4%.

Most expensive apartment building in the Kansai region to go on sale

A record-setting luxury condominium in Ashiya City, Hyogo, will soon go on sale. Branz Ashiya The Residence is a 15-unit building with apartments priced between 200 ~ 500 million Yen (1.8 ~ 4.5 million USD). With an average price of 1,850,000 Yen/sqm (approx. 1550 USD/sq.ft), this will be the most expensive apartment building to go on sale across the Kansai region this century, wiping out a previous record set in Kyoto in 2015.

City struggling to protect crumbling historic home

A 99-year old historic residence in Hyogo Prefecture is close to collapse, leaving city officials struggling to find a way to protect it against the wishes of its owner.

The Ando Residence was built in 1919 near Okubo Station in Akashi City. The exterior walls of the home are built from stone, while the mansard roof has emerald-green glazed Spanish tiles. It was designed by architect Yutaro Kagoya (1876-1936). Kagoya specialized in repairing old shrines and temples before establishing his own architectural firm that designed homes. Some of his works included the Sarue Dojunkai Apartments (c1927) in Koto Ward, Tokyo (demolished in 1992), the Takushoku University main building (c1932) in Tokyo, and the Higashi Honganji temple in Asakusa (c1939).