Archive For The “Tokyo” Category

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…

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…

215m tower for Minato Mita District

215m tower for Minato Mita District

Details on Sumitomo’s redevelopment of a 4 hectare site just west of Mita Station in Tokyo have been released. The Mita 3 and 4 Chome District Redevelopment will include a 215m tall, 42-storey office tower, as well as several low-rise residential buildings. Construction is scheduled to start in 2018 with completion by 2023.

Average apartment rent in January 2017

Average apartment rent in January 2017

According to Tokyo Kantei, the average monthly rent of a condominium-type apartment in greater Tokyo was 2,681 Yen/sqm in January 2017, down 1.4% from the previous month but up 4.4% from last year. The average apartment size was 60.24 sqm and the average building age was 20.3 years. In the Tokyo metropolitan area, the average…

New apartment prices in Tokyo up 25% in January

New apartment prices in Tokyo up 25% in January

According to the Real Estate Economic Institute, 1,384 new apartments were released for sale across greater Tokyo in January, down 80.2% from the previous month and down 7.4% from last year. 852 apartments were sold, resulting in a contract ratio of 61.6%, down 15 points from the previous month but up 3.0 points from last…

Post-2020 Real Estate Developments in Tokyo

Post-2020 Real Estate Developments in Tokyo

Construction in Tokyo does not look like it will slow down after the 2020 Olympics, with several major projects already in the pipeline. 390m tall tower for Tokyo Station (2021 ~ 2027) Located just 300 meters north of Tokyo Station, the Tokiwabashi District Redevelopment will include two high-rise towers – a 37-storey, 230m tall office…

Two new 56-story apartment towers for Kachidoki island

Two new 56-story apartment towers for Kachidoki island

Two high-rise apartment buildings are planned for Toyomicho, an area which adjoins the Kachidoki address on a man-made island in Tokyo Bay. The Toyomicho District Redevelopment will include two 56-story buildings containing a total of 2,150 apartments and 631 car parking spaces. Construction is scheduled to start in 2020 with completion by 2025. With a total…

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