Archive For The “Tokyo” Category

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…

Average rent drops for 3rd consecutive month in Tokyo

Average rent drops for 3rd consecutive month in Tokyo

In September, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,287 Yen/sqm, down 0.2% from the previous month and down 2.4% from last year. This is the 3rd month in a row to record a year-on-year drop in rents and the lowest level seen in the past 12 months.

Land in Ginza to sell for 64 million Yen (570,000 USD) per square meter

Land in Ginza to sell for 64 million Yen (570,000 USD) per square meter

Articles appearing in both the Nikkei Business Publication and the Business Journal have suggested that a block of land (with building) alongside Ginza’s main shopping street will be sold for a record price of up to 64 million Yen per square meter (approx. 570,000 USD/sqm or 53,000 USD/sq ft). 

Shinjuku plans to ban short-term accommodation on weekdays

Tokyo’s Shinjuku district is finalizing plans that will impose stricter limitations on short-term accommodation in some residential zones. The city is currently in the process of seeking public comments that will help shape the final regulations. Under the proposal, properties located in exclusive residential zones cannot be let out to guests from Monday through Thursday,…

Tokyo apartment sale prices increase for 60th consecutive month

Tokyo apartment sale prices increase for 60th consecutive month

According to REINS, 3,222 second-hand apartments were sold across greater Tokyo in September, up 42.3% from the previous month and up 2.3% from last year. The average sale price was 32,260,000 Yen, down 0.3% from the previous month but up 3.2% from last year. The average price per square meter was 506,700 Yen, up 0.3%…

Renovating a 30-year old house into a zero-energy home

Renovating a 30-year old house into a zero-energy home

If you want a well-insulated house in Japan you usually need to build it yourself. If you are looking at an older house to buy or rent, insulation is usually lacking, unless the original owner decided to go the extra mile to create a home with insulation. For the majority of older homes, however, they…

Kuwait Embassy to be rebuilt

Kuwait Embassy to be rebuilt

Tokyo will lose another one of Kenzo Tange’s works, with the Kuwait Embassy building in Tokyo due to be demolished and rebuilt next year. The 47-year old building was designed by Pritzker Prize-winning architect Kenzo Tange (1913-2005) and completed in 1970. Tange is considered one of the most significant architects of the 20th century, designing…

Tokyo apartment sales in September 2017

Tokyo apartment sales in September 2017

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

Double-income households supporting property prices

According to the NLI Research Institute, the number of households in Japan with a total annual income of over 7 million Yen (approx. 62,000 USD) reached 250,000 in 2016, an increase of 20% since 2013. While wage growth remains sluggish, the growing number of women entering the workforce has pushed up household incomes. The White Paper…

Land under Takashimaya Times Square Building sells for 21 billion Yen

Land under Takashimaya Times Square Building sells for 21 billion Yen

Takashimaya has acquired the remaining 60% of the land under the Times Square Building near Shinjuku Station for 21 billion Yen (approx. 185 million USD). The property is located on the eastern side of Shinjuku Station in Shibuya ward. The main tenants of the building include the Takashimaya department store and Tokyu Hands.

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