An offshore buyer may have been found for a large block of land with an interesting history in central Kyoto. The land is located in one of Kyoto’s leading tourist areas. Amidst a booming tourism industry and improving real estate market, a property such as this should have buyers lining out the door to bid…
Resorttrust Inc, a Nagoya-based hotel operator and developer, is planning to open The Kahala Hotel & Resort Yokohama in the city’s waterfront district of Minato Mirai by 2020. Resorttrust plans to capitalize on the Kahala brand-name to attract both domestic and foreign tourists. The project will include two 14-storey hotels – one that is open…
According to the Real Estate Economic Institute, 2,978 brand new apartments were released for sale across greater Tokyo in September, up 41.7% from the previous month but down 13.0% from last year. Back in 2013, as many as 5,970 new apartments were released for sale in the month of September. The average sale price was 58,240,000…
In September, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,287 Yen/sqm, down 0.2% from the previous month and down 2.4% from last year. This is the 3rd month in a row to record a year-on-year drop in rents and the lowest level seen in the past 12 months.
Articles appearing in both the Nikkei Business Publication and the Business Journal have suggested that a block of land (with building) alongside Ginza’s main shopping street will be sold for a record price of up to 64 million Yen per square meter (approx. 570,000 USD/sqm or 53,000 USD/sq ft).
According to REINS, 3,222 second-hand apartments were sold across greater Tokyo in September, up 42.3% from the previous month and up 2.3% from last year. The average sale price was 32,260,000 Yen, down 0.3% from the previous month but up 3.2% from last year. The average price per square meter was 506,700 Yen, up 0.3%…
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2017:
According to the NLI Research Institute, the number of households in Japan with a total annual income of over 7 million Yen (approx. 62,000 USD) reached 250,000 in 2016, an increase of 20% since 2013. While wage growth remains sluggish, the growing number of women entering the workforce has pushed up household incomes. The White Paper…
Takashimaya has acquired the remaining 60% of the land under the Times Square Building near Shinjuku Station for 21 billion Yen (approx. 185 million USD). The property is located on the eastern side of Shinjuku Station in Shibuya ward. The main tenants of the building include the Takashimaya department store and Tokyu Hands.
According to data released by Tokyo Shoko Research on September 8, one in ten residents in Tokyo’s Minato ward are company presidents, making it the most highly concentrated of all of Tokyo’s 23 wards. Minato was closely followed by Chiyoda and Shibuya wards which both have a concentration of 8.62%. Katsushika ward had the lowest…