Archive For The “Tokyo” Category

Japan’s most expensive apartment building reaches completion in Roppongi

Japan’s most expensive apartment building reaches completion in Roppongi

Last year, the quiet sale of a 5.5 billion Yen (approx. 50 million USD) apartment in central Tokyo broke price records. This was the most expensive apartment to have ever been sold in Japan, exceeding the previous record of 4.4 billion Yen paid for a penthouse apartment in Domus Minamiazabu during the bubble era in the late…

Average apartment rent in April 2017

Average apartment rent in April 2017

According to Tokyo Kantei, the average monthly rent of a condominium apartment across greater Tokyo in April 2017 was 2,654 Yen/sqm, down 1.0% from the previous month and down 0.5% from last year. The average apartment size was 60.29 sqm and the average building age was 20.2 years. In the Tokyo metropolitan area, the average…

88-yr old building on 2.6 hectare site in Minato to be sold

88-yr old building on 2.6 hectare site in Minato to be sold

Japan Post Insurance is selling their former Tokyo Service Center building and land in Mita, Minato-ku, Tokyo. The potential sale price and date has yet to be confirmed, although it is expected that the property will be offered for sale by tender. With land of this size, the eventual sale price is likely to be…

Tokyo apartment sale prices increase for 55th month

Tokyo apartment sale prices increase for 55th month

According to REINS 3,163 second-hand apartments were sold across greater Tokyo in April, down 15.0% from the previous month and down 4.0% from last year. The average sale price was 32,450,000 Yen, up 3.2% from the previous month and up 11.2% from last year. This is the first time since December 2014 that year-on-year double-digit growth…

Tokyo office rents increase for 40th consecutive month

Tokyo office rents increase for 40th consecutive month

According to Miki Shoji’s Office Report, the office vacancy rate in Tokyo’s five central business districts of Chiyoda, Chuo, Minato, Shinjuku and Shibuya was 3.39% in April 2017, down 0.21 points from the previous month and down 0.84 points from last year. This is the lowest vacancy level seen in 9 years. The vacancy rate…

Average discount of an apartment sold in 2016

Average discount of an apartment sold in 2016

According to Tokyo Kantei, in 2016 approximately 40% of second-hand apartments in the greater Tokyo area sold within a month of listing, and at an average discount of 3.00%. Two-thirds of apartments sold within the first three months of being listed. Almost a third of the apartments that sold within a month of being listed…

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:

91-yr old condo-conversion in Tokyo blends old with new

91-yr old condo-conversion in Tokyo blends old with new

Nestled down in a quiet and hidden location in Tokyo’s Hongo neighbourhood is a 91-year old building that was converted into condominium-type apartments several years ago, making it the oldest apartment conversion project in Japan. The Kyudo Gakusha was built in 1926 as a student dormitory. It was designed by architect Goichi Takeda (1872-1938) and…

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…

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