Archive For The “Real Estate News” Category

Tokyo Apartment Sales in October 2017

Tokyo Apartment Sales in October 2017

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

Banks urged to take care when lending on investment properties

According to Japan’s Financial Services Agency’s Financing Report, the average vacancy rate for investment-grade apartment buildings is estimated to be around 7%. For ‘apaato’-type buildings less than 5 years old, the average vacancy rate was just 2.6%, but for a 10-year old building it was 7.1% and 11.6% for 20-year old buildings. As buildings age,…

Apartment development focusing on city centers as buyers shun suburbs

Apartment development focusing on city centers as buyers shun suburbs

In Tokyo’s 23 wards, 4.98% of the land is being used for condominium buildings, an increase of 1.02 points over the past 10 years. The ratio is higher in central Tokyo, with some districts having a ratio of around 9%, signaling a clear shift towards living closer to the office and city center. The report,…

New apartment prices in Sendai City fall 5% in the first half of 2017.

New apartment prices in Sendai City fall 5% in the first half of 2017.

According to DG Communications, the average price of a new apartment in Sendai City in the first half of 2017 was 42,940,000 Yen, down 4.8% from last year.  The average price for the year of 2017 is also expected to decrease from last year, marking the first decline since 2011. Following the 2011 earthquake, a…

The Parkhouse Nishi-Shinjuku Tower 60 reaches completion

The Parkhouse Nishi-Shinjuku Tower 60 reaches completion

Construction of Japan’s tallest apartment building based on total floor count has reached completion this month. The Parkhouse Nishi-Shinjuku Tower 60 is a 60-storey, 209 meter tall condominium located to the west of the Shinjuku business district. It may not keep its title as the tallest building based on floor count for long – two…

Apartment asking prices across greater Tokyo drop slightly in September

Apartment asking prices across greater Tokyo drop slightly in September

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) apartment across greater Tokyo was 35,550,000 Yen in September 2017, down 0.3% from the previous month but up 0.7% from last year. The average building age was 23.1 years. In Tokyo’s 23 wards the average asking price was 52,920,000 Yen,…

Tokyo office rents increase for 45th consecutive month

Tokyo office rents increase for 45th consecutive month

According to Miki Shoji, the average monthly office rent in central Tokyo’s five business districts reached 18,995 Yen per Tsubo (approx. 5,747 Yen/sqm) in September, an increase of 3.59% from last year and the 45th month in a row to record a year-on-year increase. The average is still 17% below the recent record high of…

Dubious development site in Kyoto finds buyer

Dubious development site in Kyoto finds buyer

An offshore buyer may have been found for a large block of land with an interesting history in central Kyoto. The land is located in one of Kyoto’s leading tourist areas.  Amidst a booming tourism industry and improving real estate market, a property such as this should have buyers lining out the door to bid…

The Kahala Hotel & Resort to open in Yokohama

The Kahala Hotel & Resort to open in Yokohama

Resorttrust Inc, a Nagoya-based hotel operator and developer, is planning to open The Kahala Hotel & Resort Yokohama in the city’s waterfront district of Minato Mirai by 2020. Resorttrust plans to capitalize on the Kahala brand-name to attract both domestic and foreign tourists. The project will include two 14-storey hotels – one that is open…

New apartment prices in greater Tokyo increase for 6th month in a row

New apartment prices in greater Tokyo increase for 6th month in a row

According to the Real Estate Economic Institute, 2,978 brand new apartments were released for sale across greater Tokyo in September, up 41.7% from the previous month but down 13.0% from last year. Back in 2013, as many as 5,970 new apartments were released for sale in the month of September. The average sale price was 58,240,000…

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