According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment across greater Tokyo was 35,720,000 Yen in May, up 0.3% from the previous month and up 3.5% from last year. The average building age was 22.8 years. In the Tokyo metropolitan area, the average asking price was 48,220,000…
According to Tokyo Kantei, the average monthly rent of a condominium-type apartment across greater Tokyo in May 2017 was 2,633 Yen/sqm, down 0.8% from the previous month and down 1.1% from last year. The average apartment size was 59.94 sqm and the average building age was 20.2 years. In the Tokyo metropolitan area, the average…
Three men and women have been arrested for the alleged fraudulent sale of a 300 square meter block of land in Tokyo’s upscale Minamiazabu neighbourhood. According to the police department, the suspects forged the identity of the landowner and collected a 240 million Yen (approx. 2.15 million USD) payment from a buyer in early 2014….
According to the Real Estate Economic Institute, 2,603 new apartments were released for sale across greater Tokyo in May, down 5.0% from the previous month and down 13.3% from last year. This is the lowest supply for the month of May seen since 1992 when 1,617 apartments were released for sale. 1,880 apartments were sold,…
On June 13 Mori Trust announced that they have acquired the historic holiday home of Taneji Yamazaki (1893-1983) in Atami City for an undisclosed price. Yamazaki was a successful businessman, founding several trading companies, including one which is now SMBC Friend Securities. In 1966 he founded the Yamatane Museum of Art in Tokyo, which was…
Tobu Railway and real estate developer HULIC have announced plans to open a luxury hot spring resort in Nikko that will cater to wealthy tourists. The tentatively-titled ‘Nikko Fufu’ resort is scheduled to open in 2019. The 14,000 sqm site is located on Tobu-owned land in the Tomozawa district in Nikko. It adjoins the 40,000…
Research company Mansion Market has ranked the top 10 addresses in Tokyo’s Minato ward that have seen the highest increase in apartment prices over the past 10 years. Five addresses recorded price increases of over 20%. In top place was Azabu Juban with an average increase in price of 27.1%.
According to REINS, 2,983 second-hand apartments were sold across greater Tokyo in May, down 5.7% from the previous month and down 0.6% from last year. The average sale price was 31,730,000 Yen, down 2.2% from the previous month but up 6.1% from last year. The average price per square meter was 494,900 Yen, down 1.8%…
A 32-storey, 122 meter tall residential building is under construction alongside Tsukishima’s Nishinaka Street in Chuo-ku, Tokyo. The street, which is also known as Monja Street, is famous for being lined with over 70 restaurants serving monjayaki dishes. The Tsukishima 1 Chome Nishinaka Street District Redevelopment is a 30 billion Yen project being lead by…
In order to encourage and promote the sale of long-vacant homes in Japan, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) is considering increasing the maximum commission that a real estate agency can charge on a transaction. Real estate brokerage fees in Japan are currently capped at the following rates: Sale price: Commission*: < ¥2,000,000…