Marketing for condo sales in Harumi Flag – the sprawling development that will be temporarily used as the Athlete’s Village for the 2020 Summer Olympics – is off to a strong start with over 1,000 interested buyers visiting the show room over the 10-day Golden Week holiday in late April.
Details have come out for the large-scale future redevelopment of the Meiji Jingu Baseball Stadium and Prince Chichibu Memorial Rugby Stadium district in central Tokyo. The 17.4-hectare site straddles Minato and Shinjuku wards and adjoins the new Olympic Stadium.
According to the Real Estate Economic Institute’s report on the compact apartment market, smaller apartments are starting to account for a larger share of total supply.
Sales in a new resort project in Niseko are off to a strong start with all villa lots sold. ‘Intuition’ is a condo-hotel and holiday home resort development by Hong Kong developer Zekkei Properties.
Land prices on this tropical island in Okinawa have increased by as much as 50,000% (no, that’s not a typo) over the past four years.
A town planning decision has been made for the Nishiazabu 3 Chome North-East District Redevelopment. The project will see a 200 meter tall mixed-use tower with residences, office, retail and a hotel. Construction is scheduled to start in 2020 with completion tentatively scheduled for 2025.
On December 18, Tokyu Land announced the formation of a project agreement with the Next Shibuya Sakuragaoka District Town Area Redevelopment Preparation Committee.
On January 30, Mitsubishi Estate and Tokyo Broadcasting System Holdings (TBS) announced the formation of business agreement for the redevelopment of the Kokusai Shin-Akasaka Buildings (East, West and Annex). These office towers are located just above Akasaka Station and across the street from Akasaka Biz Tower and the TBS TV Studios.
According to the Real Estate Economic Institute, a total of 2,323 brand-new apartments were released for sale across greater Tokyo in February, up 22.3% from the previous month but down 6.7% from last year. This is the second month in a row to see a year-on-year decline in supply.
According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), there were 942,370 new housing starts across Japan in 2018, a 2.3% drop from 2017 and the second year in a row to see a decline.