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

Average age of an apartment sold in Toky...

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 ...

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 mill...

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...

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 ...

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 ...

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 yea...

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,…

Sublease lawsuits on the rise

Sublease lawsuits on the rise

Disputes on sublease agreements for rental properties are on the increase across Japan. A sublease or rental guarantee agreement is where a company, often a real estate agency, leases an apartment building or block of flats from the property owner to sublease out to tenants. The owner is guaranteed a fixed rent each month and…

Details released for Akasaka Twin Tower Redevelopment Site

Details released for Akasaka Twin Tower ...

Details were released earlier this month on the Akasaka 2 Chome Project near Tameikesanno Station in Tokyo. The project has received special permission under the National Strategic Special Zones Law and town planning approval is expected in 2017 or 2018. Completion is tentatively scheduled for 2022. The 11,866 sqm site is owned by Mori Trust…

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