Archive For The “Real Estate News” Category

Average age of an apartment sold in Tokyo in 2016 increases from previous year

Average age of an apartment sold in Tokyo in 2016 increases from previous year

According to REINS the average age of a second-hand apartment sold in greater Tokyo in 2016 was 20.26 years, up 0.13 years from 2015. The average age of an apartment listed for sale during the year was 22.32 years, up 0.27 years from 2015. Apartments less than 5 years old made up 9.5% of all…

New apartments in Tokyo to be completed in 2017

New apartments in Tokyo to be completed in 2017

The following is a selection of condominiums due for completion in central Tokyo in 2017. Proud Roppongi and Royal Season’s Akasaka are the only buildings where some of the larger apartments come with two bathrooms. Only one building has apartments over 200 sqm (Proud Roppongi).

Nomura to lead redevelopment project in Akasaka 7 Chome

Nomura to lead redevelopment project in Akasaka 7 Chome

According to an investor relations report by Nomura Real Estate Holdings, the developer will be participating in the Akasaka 7 Chome 2 District Redevelopment in central Tokyo. Nomura will receive approximately 200+ apartments as part of the deal. The project is still in the planning stages, but construction could start sometime in 2020 with completion sometime between 2023~2025….

Tokyo Apartment Sales in February 2017

Tokyo Apartment Sales in February 2017

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

Otemachi’s first serviced apartments to open this month

Otemachi’s first serviced apartments to open this month

Otemachi, one of Japan’s top business districts, will see the opening of its very first residences at the end of this month. Until now, there have been no apartments or residential options in the Otemachi and Marunouchi districts. Ascott Marunouchi Tokyo is located on the top 9 floors of the recently completed Otemachi Park Building. The…

Hakone modernist hotel to close next year

Hakone modernist hotel to close next year

Hakone Hotel Kowaki-en will close its doors in January 2018, marking the end of 60 years of operations. The 224-room hotel was designed by modernist architect Yoshimura Junzo and built in 1959. The hotel’s garden dates back to 1914. The hotel closure is due to aging buildings and facilities. The owner and operator, Fujita Kanko,…

Sublease lawsuits on the rise

Sublease lawsuits on the rise

Disputes on sublease agreements for rental properties are on the increase across Japan. A sublease or rental guarantee agreement is where a company, often a real estate agency, leases an apartment building or block of flats from the property owner to sublease out to tenants. The owner is guaranteed a fixed rent each month and…

Details released for Akasaka Twin Tower Redevelopment Site

Details released for Akasaka Twin Tower Redevelopment Site

Details were released earlier this month on the Akasaka 2 Chome Project near Tameikesanno Station in Tokyo. The project has received special permission under the National Strategic Special Zones Law and town planning approval is expected in 2017 or 2018. Completion is tentatively scheduled for 2022. The 11,866 sqm site is owned by Mori Trust…

Japan’s new apartment supply in 2016 reaches 24-year low

Japan’s new apartment supply in 2016 reaches 24-year low

The supply of brand new apartments released for sale across Japan in 2016 reached the lowest level seen since 1992. Transactions of second-hand apartments, however, reached a record high with sales up 6.9% in greater Tokyo and the highest level seen since record-keeping began. According to the Real Estate Economic Institute,  a total of 76,993…

Tokyo apartment asking prices in January 2017

Tokyo apartment asking prices in January 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment in greater Tokyo was 35,680,000 Yen in January 2017, showing no change from the previous month but up 6.9% from last year. The average building age was 22.4 years. In the Tokyo metropolitan area, the average asking price…

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