Archive For The “Land” Category

The owners of 20% of Japan’s land are unaccounted for

The owners of 20% of Japan’s land are unaccounted for

According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), approximately 41,000 square kilometers, or 20% of privately-owned land in Japan is owned by unidentifiable or missing owners. A missing owner is defined as someone who has either passed away without the property title being transferred to the heirs, or an owner who has…

Luxury hotel planned for historic site in Nara Park

Luxury hotel planned for historic site in Nara Park

Nara Prefecture is accepting bids from private companies for a hotel development to be located within the Nara Park grounds in Nara City. The 1.3 hectare site is located on the southern side of Nara Park’s Ukimi-do Hall, and was purchased by the prefecture from the national government in 2005. Prior to the Meiji Restoration,…

Buying land: Understanding the differences between registered and actual land size

Buying land: Understanding the differences between registered and actual land size

If you are buying land or a house and land in Japan, it is essential to understand how land sizes are measured and represented on contract documents. Measured size vs. registered size Each parcel of land has a size that is registered on the land title. This size is decided by the Legal Affairs Bureau…

Commercial standard land prices in Japan’s big cities increase for 4th year in a row

Commercial standard land prices in Japan’s big cities increase for 4th year in a row

The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced this year’s Standard Land Prices on September 20. Nationwide, land prices declined for the 25th year in a row with a 0.6% decrease, although the rate of decline is slowing. Meanwhile, commercial land prices stopped their downwards trend for the first time in 9 years….

City suing for ownership of ancient tomb in Osaka

City suing for ownership of ancient tomb in Osaka

Fujidera City in Osaka Prefecture has filed a lawsuit seeking the transfer of ownership of land containing a 1,500 year-old ancient tomb. Called a ‘kofun’, the ancient tomb is part of the Mozu and Furuichi Kofun-gun group of tombs constructed between the 3rd and 7th century AD in the Osaka area. The city is hoping…

Former Sanki-en Estate in Kamakura for sale

Former Sanki-en Estate in Kamakura for sale

Price: 230,000,000 Yen (Approx. 2.25 million USD)   This is a large 7,600 sqm block of residential land in Kamakura that was originally the estate of Tsusai Sugahara (1894-1981), a famous Japanese industrialist and developer Japan’s first tollroad which ran between Ofuna and Enoshima in the 1930s. In 1929, Sugahara relocated a grand samurai residence dating…

Rosenka land values increase nationwide for first time in 8 years

Rosenka land values increase nationwide for first time in 8 years

According to Japan’s National Tax Agency, rosenka land values across Japan in 2016 increased by 0.2% from 2015. This is the first time to see an increase in the nationwide average since pre-global financial crisis in 2008. Recent monetary easing measures, strong activity in the real estate market in central Tokyo and a surge in…

Mitsubishi acquires Shibuya site for potential luxury condominium project

Mitsubishi acquires Shibuya site for potential luxury condominium project

Mitsubishi Jisho Residence and Cosmos Initia have acquired a large development site near Shibuya Station. Details have yet to be announced, but industry insiders suggest that, given the size of the land, it could be slated for a luxury condominium project. The 3,300 sqm (35,500 sq.ft) site in Nanpeidaicho is located near the Cerulean Tower…

Japan’s commercial land prices increase for first time in 8 years

Japan’s commercial land prices increase for first time in 8 years

For the first time in 8 years, commercial land prices in Japan saw an increase from the previous year. According to the 2016 ‘chika-koji’ assessed land values released by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the nationwide commercial land price increased by 0.9% from 2015. In the Tokyo metropolitan area, commercial land…

Central Tokyo apartment sale prices drop as average building age increases

Central Tokyo apartment sale prices drop as average building age increases

According to REINS, 2,543 second-hand apartments were sold across greater Tokyo in December, down 1.4% from the previous month but up 1.8% from 2014. The average apartment sale price was 28,640,000 Yen, down 1.8% from the previous month but up 0.6% from 2014. The average price per square meter was 454,400 Yen, down 1.2% from…

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