Archive For The “Real Estate News” Category

Kyoto’s tourism boom creates office shortage

With office vacancy rates in the 2% range, commercial tenants in Kyoto are reporting difficulty in finding new office space as the city’s supply of office buildings dwindles. This year, parts of Higashiyama, Nakagyo and Shimogyo saw rosenka land values increase by over 20%. Rising land values are being supported by the city’s booming tourist…

23-storey apartment tower planned for Roppongi Itchome

23-storey apartment tower planned for Roppongi Itchome

Real estate developer Mori Trust is planning a 23-storey, 80-meter tall apartment building for a site in Roppongi. Completion is scheduled for late May 2019. The Roppongi Itchome Project is located on the same block as Ark Hills Sengokuyama Mori Tower and across the street from Park Court Roppongi Hilltop. The site was previously a training…

Sales start in 50-storey high-rise in Osaka

Sales start in 50-storey high-rise in Osaka

Off-the-plan sales in the 50-storey Branz Tower Umeda North condominium began over the weekend, with the most expensive unit in the building – a 145 square meter three-bedroom penthouse – priced at 270 million Yen (approx. 2.37 million USD). A total of 218 apartments were offered for sale in the first round, representing a third…

How long does it take to for an apartment to sell in central Tokyo?

How long does it take to for an apartment to sell in central Tokyo?

We find many clients miss out on some great purchases because they assume they will have plenty of time before a property sells. One of the biggest mistakes you can make when trying to enter a major market like Tokyo is to think that you are the only buyer out there. In reality, there are a…

Nationwide rosenka land values increase for 2nd year in a row

Nationwide rosenka land values increase for 2nd year in a row

In 2017, Japan’s rosenka land values increased for the second year in a row with an average growth of 0.4% nationwide. In 2016, rosenka land values increased by 0.2%, ending an 8 year decline. In Tokyo’s Ginza district, an uptick in retail demand due to record-high foreign tourist numbers has helped to push land values…

Neighbours file dispute over new apartment building in Tokyo’s Shibaura district

Neighbours file dispute over new apartment building in Tokyo’s Shibaura district

The Sankei Shimbun has reported that residents of a 14-storey, 36-year old condominium near Shinagawa Station in Tokyo’s Minato-ku have filed a complaint with the Tokyo Metropolitan Government seeking the cancelling of the building permit for a project under construction on an adjoining lot. The neighboring building is being built on land that was once…

School to be converted into apartment building

School to be converted into apartment building

Real estate company Misawa Homes has acquired a 36-year old former technical school building in Tokyo’s Chiyoda ward, and will convert the existing building into rental apartments. This will be the company’s second ‘refining’ project to be done in conjunction with Shigeru Aoki Architect & Associates. The architectural firm has worked on several building refurbishment…

Tokyo apartment asking prices in May 2017

Tokyo apartment asking prices in May 2017

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…

Average apartment rent in May 2017

Average apartment rent in May 2017

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 arrested for fraudulent sale of land in Minamiazabu

Three arrested for fraudulent sale of land in Minamiazabu

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….

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