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Minato ward’s population exceeds 250,000 for first time in 54 years

Minato ward’s population exceeds 250,000 for first time in 54 years

In February 2017, the resident population in Tokyo’s Minato ward exceeded 250,000 for the first time in 54 years. Over the past 10 years the population has increased by 33%. The population as at March 1 reached 250,193, of which 7.7% are foreigners. The total is still slightly below the peak of 256,400 seen in 1959. The…

Tokyo second-hand apartment sale prices up for 53rd month in a row

Tokyo second-hand apartment sale prices up for 53rd month in a row

According to REINS, 3,461 second-hand apartments were sold across greater Tokyo in February, up 21.0% from the previous month but down 2.2% from last year. The average sale price was 31,520,000 Yen, up 0.4% from the previous month and up 3.5% from last year. This is the 50th month in a  row to see a…

Average age of an apartment sold in Tokyo in 2016 increases from previous year

Average age of an apartment sold in Tokyo in 2016 increases from previous year

According to REINS the average age of a second-hand apartment sold in greater Tokyo in 2016 was 20.26 years, up 0.13 years from 2015. The average age of an apartment listed for sale during the year was 22.32 years, up 0.27 years from 2015. Apartments less than 5 years old made up 9.5% of all…

New apartments in Tokyo to be completed in 2017

New apartments in Tokyo to be completed in 2017

The following is a selection of condominiums due for completion in central Tokyo in 2017. Proud Roppongi and Royal Season’s Akasaka are the only buildings where some of the larger apartments come with two bathrooms. Only one building has apartments over 200 sqm (Proud Roppongi).

Town to buy 300-yr old house for 38 million Yen

Town to buy 300-yr old house for 38 million Yen

Matsuzaki Town in Shizuoka’s Izu Peninsula will be purchasing the 300-year old former Yoda Residence for 38.4 million Yen (approx. 337,000 USD). The town’s budget for acquisition and preservation of the property is expected to total 48.7 million Yen, which includes 10 million Yen to acquire the rights to a hot spring source. The property…

Short-term accommodation hosts to be hit with 180 day limit

The Japanese government is currently in the process of introducing a new law to govern the rapidly growing market of short-term letting of individual homes and apartments, and will be imposing strict rules on hosts. The maximum number of days that a property can be let out is expected to be capped at 180 days a…

Nomura to lead redevelopment project in Akasaka 7 Chome

Nomura to lead redevelopment project in Akasaka 7 Chome

According to an investor relations report by Nomura Real Estate Holdings, the developer will be participating in the Akasaka 7 Chome 2 District Redevelopment in central Tokyo. Nomura will receive approximately 200+ apartments as part of the deal. The project is still in the planning stages, but construction could start sometime in 2020 with completion sometime between 2023~2025….

Tokyo Apartment Sales in February 2017

Tokyo Apartment Sales in February 2017

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

Otemachi’s first serviced apartments to open this month

Otemachi’s first serviced apartments to open this month

Otemachi, one of Japan’s top business districts, will see the opening of its very first residences at the end of this month. Until now, there have been no apartments or residential options in the Otemachi and Marunouchi districts. Ascott Marunouchi Tokyo is located on the top 9 floors of the recently completed Otemachi Park Building. The…

Hakone modernist hotel to close next year

Hakone modernist hotel to close next year

Hakone Hotel Kowaki-en will close its doors in January 2018, marking the end of 60 years of operations. The 224-room hotel was designed by modernist architect Yoshimura Junzo and built in 1959. The hotel’s garden dates back to 1914. The hotel closure is due to aging buildings and facilities. The owner and operator, Fujita Kanko,…

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