Archive For The “Tokyo” Category

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…

Japan’s high-rise apartment market from 2017 to 2021 onwards

Japan’s high-rise apartment market from 2017 to 2021 onwards

According to the Real Estate Economic Institute, there are 285 high-rise residential buildings containing 106,321 apartments planned for completion across Japan from 2017 onwards. This is an increase of 47 buildings and 16,477 apartments from the previous survey point in March 2016. 76.1% of the apartments are located in the greater Tokyo area, where 186…

Tokyo apartment asking prices in March 2017

Tokyo apartment asking prices in March 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment in greater Tokyo was 35,810,000 Yen in March 2017, down 0.1% from the previous month but up 5.8% from last year. The average building age was 22.5 years. In the Tokyo metropolitan area the average asking price was…

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…

Go Top