Archive For The “Real Estate News” Category

Yuzawa’s resort condo market facing unique issues

Yuzawa’s resort condo market facing unique issues

Almost 20% of Japan’s resort apartments are located in the ski resort area of Yuzawa in Niigata Prefecture. The town has 58 resort apartment buildings containing approximately 15,000 units. Yuzawa also has the highest percentage of apartments as a share of total households nationwide, with 4 times as many apartments as registered households. These resort apartments…

Second building in Yokohama to be rebuilt due to faulty foundations

Second building in Yokohama to be rebuilt due to faulty foundations

On April 30, apartment owners in a 262-unit residential complex in Yokohama voted in favor of redeveloping the five buildings after it was discovered that the foundations were not sunk deep enough. Back in 2013, residents noticed that one of the buildings was starting to lean after handrails between two buildings were out of alignment….

2.2 Traditional machiya houses in Kyoto are demolished each day

2.2 Traditional machiya houses in Kyoto are demolished each day

Kyoto City is losing its traditional machiya townhouses at an alarming rate, with an average of 2.2 of these symbolic houses demolished each day. On May 1, Kyoto City announced that approximately 5,600 machiya have been demolished over the past seven years. In 2016, a survey found that there were 40,146 surviving machiya in the…

Construction to start on Foretseine Motoazabu 2 Chome project in July

Construction to start on Foretseine Motoazabu 2 Chome project in July

Mori Trust is developing a luxury apartment building atop the Motoazabu neighbourhood in central Tokyo. Takenaka Corporation, one of Japan’s top construction giants, will start construction on Foretseine Motoazabu 2 Chome in July 2017. Completion is due for the end of December 2018. The 5-storey building will have just 17 spaciously sized apartments. This project…

Tokyo Apartment Sales in April 2017

Tokyo Apartment Sales in April 2017

The following is a selection of apartments that were sold in central Tokyo during the month of April 2017:

Floor space ratios may be relaxed for pre-1981 buildings in Tokyo

Floor space ratios may be relaxed for pre-1981 buildings in Tokyo

The Tokyo Metropolitan Government is considering introducing regulations that would relax floor-space ratios when redeveloping old apartment buildings in the city. This would allow for the additional space to be sold by a real estate developer, which would help to cover the costs of redevelopment. The target of the revision is condo-style apartment buildings that…

Historic restaurant in Nagasaki looking for buyer

Historic restaurant in Nagasaki looking for buyer

The owner and operator of the 150-year old Fukiro Restaurant in Nagasaki City will be temporarily closing the restaurant later in the year while they search for a buyer of the historic property. The owner, who is the 6th generation of the founder, made the difficult decision due to a shortage of staff and not…

Japan’s high-rise apartment market from 2017 to 2021 onwards

Japan’s high-rise apartment market from 2017 to 2021 onwards

According to the Real Estate Economic Institute, there are 285 high-rise residential buildings containing 106,321 apartments planned for completion across Japan from 2017 onwards. This is an increase of 47 buildings and 16,477 apartments from the previous survey point in March 2016. 76.1% of the apartments are located in the greater Tokyo area, where 186…

Tokyo apartment asking prices in March 2017

Tokyo apartment asking prices in March 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment in greater Tokyo was 35,810,000 Yen in March 2017, down 0.1% from the previous month but up 5.8% from last year. The average building age was 22.5 years. In the Tokyo metropolitan area the average asking price was…

Hakone Fujiya Hotel to close for 2 years for earthquake retrofitting

Hakone Fujiya Hotel to close for 2 years for earthquake retrofitting

Last month, Hakone’s historic landmark Fujiya Hotel announced that they will be temporarily closing the hotel from April 2018 to conduct necessary earthquake retrofitting and refurbishment. The hotel will re-open in Spring 2020. Fujiya Hotel’s main building was built in 1891 and is registered as a National Tangible Cultural Property along with the Comfy Lodge,…

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