Archive For The “Tokyo” Category

Average apartment rent in March 2017

Average apartment rent in March 2017

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo in March was 2,681 Yen/sqm, up 0.6% from the previous month and up 3.6% from last year. The average apartment size was 60.35 sqm and the average building age was 20.0 years. In the Tokyo metropolitan area, the average monthly…

Tokyo’s new apartment supply in March up 26.6%

Tokyo’s new apartment supply in March up 26.6%

According to the Real Estate Economic Institute, 3,408 new apartments were released for sale across greater Tokyo in March, up 47.5% from the previous month and up 26.6% from last year. 2,255 apartments were sold, resulting in a contract ratio of 66.2%, down 2.2 points from the previous month and down 1.4 points from last…

Chiyoda’s population reaches 36-year high

Chiyoda’s population reaches 36-year high

In April, the resident population in Tokyo’s Chiyoda Ward exceeded 60,000 for the first time since 1981. It reached 60,297 as at April 1, 2017, up 2.1% from the previous year. Approximately 4.5% of the residents are foreigners. In the first national census in 1920, the population was 220,000. The years following the Great Kanto…

Roppongi land sells for 15 billion Yen (135 million USD)

Roppongi land sells for 15 billion Yen (135 million USD)

A 2,200 sqm development site in Roppongi was sold by the local finance bureau at a public tender sale in February. The land sold to Mori Building for a reported 15.01 billion Yen (approx. 135.6 million USD). A total of 10 buyers submitted bids on the property. This sale price works out to approximately 6,823,000…

Central Tokyo apartment transactions reach 9-year high in March

Central Tokyo apartment transactions reach 9-year high in March

According to REINS, 3,719 second-hand apartments were sold across greater Tokyo in March, up 7.5% from the previous month and up 3.6% from last year. The average sale price was 31,450,000 Yen, down 0.2% from the previous month but up 2.9% from last year. The average price per square meter was 492,800 Yen, down 100…

Central Tokyo’s population to increase by 40% over next 20+ years

Central Tokyo’s population to increase by 40% over next 20+ years

According to the Tokyo Metropolitan Government, the resident population in Tokyo’s central three wards of Minato, Chiyoda and Chuo are expected to increase by 43% over the next 23 years as wealthy families and older retirees return to the city center. The population of the three wards is forecast to increase from its current level…

New condo starts down 35% in February

New condo starts down 35% in February

According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), housing starts across Japan in February were down 2.6% from the previous year to 70,912 units. This is the first time in 8 months to see a decrease from 12 months prior. Housing starts in the Tokyo metropolitan area were 12,370 units, down 4.9%…

4 Apartments For Sale in Roppongi Hills

4 Apartments For Sale in Roppongi Hills

Four apartments are currently for sale in the Roppongi Hills Residences. The Residences form part of the landmark Roppongi Hills complex, which includes an office tower, restaurants, a retail mall, Grand Hyatt Hotel, TV Asahi studio, Louis Vuitton, Tiffany, and Escada boutiques. Roppongi Hills is a nationally and internationally renowned complex and is considered one of the…

Tokyo Apartment Sales in March 2017

Tokyo Apartment Sales in March 2017

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

4,000 sqm site in Ebisu sold to developer

4,000 sqm site in Ebisu sold to developer

Nomura Real Estate Development has won the bid to acquire a 4,035 sqm block of land in Ebisu. The property, which was a former apartment building for government officials, was sold by the Kanto Local Finance Bureau under a competitive bidding scheme. A total of 11 applications were made on the property, with 5 offers…

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