A year has passed since the introduction of new regulations covering short-term letting or Airbnb-style rentals in Japan. Take-up has been slow with just 6,438 registered properties across the greater Tokyo area, which includes Tokyo, Kanagawa, Chiba, and Saitama prefectures. Before the new law was introduced in June 2018, there were 16,000 properties listed on Airbnb’s website in Tokyo’s 23 wards alone.
A concierge is considered a value-add to a residential building and something developers will provide in higher-end properties in Japan. It is important to understand that concierges in Japan may not offer the same type of services that may be standard in other countries.
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2019:
On June 25, film studio Toho announced plans to redevelop the Toho Twin Tower building in Yurakucho, Tokyo. Construction giant Takenaka Corporation will be in charge of planning and construction.
The wording on a flood hazard map issued by Edogawa Ward in Tokyo has created a stir with the ward essentially telling residents to get out of town in the event of major flooding.
The rosenka land values for 2019 were announced by the National Tax Agency on July 1. Nationwide, land values increased by 1.3%. This is the fourth year in a row to record a year-on-year increase. The rate of growth has also expanded, following 0.7% in 2018, 0.4% in 2017 and 0.2% in 2016. This is the first time to see four years of consecutive growth since 1992.
In an effort to attract luxury hotel brands, Aichi Prefecture and Nagoya City governments are both considering offering subsidies that will total up to 2 billion Yen (approx. 18.5 million USD).
The Nomura Research Institute is forecasting a significant drop in new housing starts across Japan by 2030.
Kyoto’s shortage of office space is becoming critical as vacancy rates drop below 1%. With a booming tourist industry, developers have been focusing on building hotels, leaving very little supply of new offices.
Generally speaking, whether you are Japanese or a foreigner, it is possible to buy and own mountainside forest in Japan.
70% of Japan is forest. According to the Forestry Agency, 40% of that is national forest, with the remaining 60% owned by private individuals and companies.