Archive For The “Real Estate News” Category

Norges Bank acquires 132.5 billion Yen in real estate in Omotesando/Harajuku in JV

Norges Bank acquires 132.5 billion Yen in real estate in Omotesando/Harajuku in JV

Norges Bank Real Estate Management (NBREM), part of Norway’s sovereign wealth fund, will acquire a 70% stake in a 132.5 billion Yen (approx. 1.17 billion USD) portfolio of real estate in Tokyo along with partner Tokyu Land. This is NBREM’s first investment in Asia.

Instant sellout in The Tower Yokohama Kitanaka

Instant sellout in The Tower Yokohama Kitanaka

All 730 apartments offered in the first round of sales for The Tower Yokohama Kitanaka have been sold. This was the highest number of apartments to have ever been released for sale in a building in Yokohama city in history. The 58-storey, 1,176-unit high-rise is also the largest building based on apartment-count to be built…

41-storey apartment tower for Sengaku-ji area

41-storey apartment tower for Sengaku-ji area

A 170 meter, 41-storey high-rise tower has been proposed for the area next-door to Sengaku-ji Temple in Tokyo’s Minato ward. If approved, construction could start in 2020 with completion by 2024. The 18,000 sqm site is located directly to the east of the historic Sengaku-ji temple and fronts onto the Daiichi Keihin street. The new…

Tokyo Apartment Sales in November 2017

Tokyo Apartment Sales in November 2017

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of November 2017:

Takashimaya pays 442 million USD for two office buildings in Nihonbashi

Takashimaya pays 442 million USD for two office buildings in Nihonbashi

Takeda Pharmaceutical has sold two of their buildings in downtown Tokyo to the Takashimaya Department Store for a reported price of 49.5 billion Yen (approx. 442 million USD). Delivery of the buildings is scheduled for March 2019. Both properties were owned by Takeda’s real estate division. Takeda will be putting the proceeds from the sale…

Loans for rental housing increased by 20% this quarter

The total value of loans offered by banks for real estate purchases in the second quarter of fiscal 2017 (July ~ September) was 2.96 trillion Yen (approx. 26 billion USD), an increase of 23.5% from the previous quarter. Demand for financing for the construction of commercial office and apartment buildings has been high due to…

700 million USD condominium, hotel and retail project for Hokkaido’s Rusutsu Resort

700 million USD condominium, hotel and retail project for Hokkaido’s Rusutsu Resort

Kamori Kanko, a Sapporo-based hotel operator, is planning an 80 billion Yen (approx. 717 million USD) overhaul of the Rusutsu Resort in Hokkaido. The first stage of the project will include a 148-room luxury condominium-hotel with construction set to start next spring. The condominium will be called The Vale Rusutsu and will be 11 storeys…

Yokohama may ban short-term letting on weekdays

Yokohama City is following in Shinjuku’s footsteps by proposing to introduce a ban on short-term Airbnb-style letting on weekdays. The plan would prohibit minpaku rentals from Mondays through Thursdays in areas zoned as Exclusively Low-Rise Residential. The plan will be open to public comment until December 19, with the draft to be submitted to the…

Japan’s first Indigo hotel to open in Hakone

Japan’s first Indigo hotel to open in Hakone

On November 22, InterContinental Hotels Group (IHG) announced plans to open a 100 room hotel alongside the Haya River in Hakone. The Hotel Indigo Hakone-Gora will be IHG’s first Indigo-branded hotel in Japan. Opening is scheduled for 2019. The hotel site is a 10 minute walk from Gora Station and a 2 minute walk from…

Apartment asking prices in Tokyo in October 2017

Apartment asking prices in Tokyo in October 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) apartment across Greater Tokyo was 35,810,000 Yen in October 2017, up 0.7% from the previous month but down 1.1% from last year. The average building age was 23.0 years. In Tokyo’s 23 wards the average asking price was 52,920,000 Yen,…

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