Loans for rental housing increased by 20...

The total value of loans offered by banks for real estate purchases in the second quarter of fiscal 2017 (July ~ September) was 2.96 trillion Yen (approx. 26 billion USD), an increase of 23.5% from the previous quarter. Demand for financing for the construction of commercial office and apartment buildings has been high due to…

700 million USD condominium, hotel and retail project for Hokkaido’s Rusutsu Resort

700 million USD condominium, hotel and r...

Kamori Kanko, a Sapporo-based hotel operator, is planning an 80 billion Yen (approx. 717 million USD) overhaul of the Rusutsu Resort in Hokkaido. The first stage of the project will include a 148-room luxury condominium-hotel with construction set to start next spring. The condominium will be called The Vale Rusutsu and will be 11 storeys…

Yokohama may ban short-term letting on w...

Yokohama City is following in Shinjuku’s footsteps by proposing to introduce a ban on short-term Airbnb-style letting on weekdays. The plan would prohibit minpaku rentals from Mondays through Thursdays in areas zoned as Exclusively Low-Rise Residential. The plan will be open to public comment until December 19, with the draft to be submitted to the…

Japan’s first Indigo hotel to open in Hakone

Japan’s first Indigo hotel to open in Ha...

On November 22, InterContinental Hotels Group (IHG) announced plans to open a 100 room hotel alongside the Haya River in Hakone. The Hotel Indigo Hakone-Gora will be IHG’s first Indigo-branded hotel in Japan. Opening is scheduled for 2019. The hotel site is a 10 minute walk from Gora Station and a 2 minute walk from…

Apartment asking prices in Tokyo in October 2017

Apartment asking prices in Tokyo in Octo...

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) apartment across Greater Tokyo was 35,810,000 Yen in October 2017, up 0.7% from the previous month but down 1.1% from last year. The average building age was 23.0 years. In Tokyo’s 23 wards the average asking price was 52,920,000 Yen,…

Tokyu expanding development of luxury condominiums in Tokyo

Tokyu expanding development of luxury co...

To cater to growing demand, Tokyu Land is expanding the development of 100 million Yen+ condominiums in central Tokyo’s six wards. They currently have four high-end projects under development in Tokyo and have increased their sales staff by 20%. Their target buyers are wealthy seniors and dual-income households. Two of their luxury projects include Branz…

Apartments in The Tower Yokohama Kitanaka to go on sale this weekend

Apartments in The Tower Yokohama Kitanak...

Over 60% of the apartments in Yokohama’s tallest condominium will go on sale this weekend, in what will be the highest number of apartments to have ever been released for sale in a building in the city. The Tower Yokohama Kitanaka is a 58-storey, 200m tall apartment building located in front of Bashamichi Station and…

Double-end commission still at high leve...

According to an article in ZAi Online, some of Japan’s major real estate agencies are collecting double-end commissions on over half of their sales. Collecting brokerage fees from both the buyer and seller may be illegal in some countries, but is a legal and common practice in Japan. Many times the buyer or seller will…

Roppongi has the lowest rental yields in Tokyo

Roppongi has the lowest rental yields in...

According to Tokyo Kantei, brand new apartments within walking distance of Roppongi Station had the lowest rental yields in greater Tokyo with an estimated gross return of 2.34%. Across greater Tokyo the average gross yield on a new apartment was 4.44%, and as high as 6.19% for 30 year old apartments. Yields reflect risk and…

Google Japan office relocation signals return of Shibuya’s Bit Valley

Google Japan office relocation signals r...

On November 17, Google Japan announced plans to relocate their head office to a new office tower near Shibuya Station in mid-2019. Google will be taking up floors 14 to 35 in Shibuya Stream – a 35-storey office tower due for completion in late 2018. The 50,000 sqm (538,000 sq ft) of office space will…

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