Archive For The “Tokyo” Category

Tokyo Apartment Sales in October 2017

Tokyo Apartment Sales in October 2017

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

Apartment development focusing on city centers as buyers shun suburbs

Apartment development focusing on city centers as buyers shun suburbs

In Tokyo’s 23 wards, 4.98% of the land is being used for condominium buildings, an increase of 1.02 points over the past 10 years. The ratio is higher in central Tokyo, with some districts having a ratio of around 9%, signaling a clear shift towards living closer to the office and city center. The report,…

The Parkhouse Nishi-Shinjuku Tower 60 reaches completion

The Parkhouse Nishi-Shinjuku Tower 60 reaches completion

Construction of Japan’s tallest apartment building based on total floor count has reached completion this month. The Parkhouse Nishi-Shinjuku Tower 60 is a 60-storey, 209 meter tall condominium located to the west of the Shinjuku business district. It may not keep its title as the tallest building based on floor count for long – two…

Apartment asking prices across greater Tokyo drop slightly in September

Apartment asking prices across greater Tokyo drop slightly in September

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) apartment across greater Tokyo was 35,550,000 Yen in September 2017, down 0.3% from the previous month but up 0.7% from last year. The average building age was 23.1 years. In Tokyo’s 23 wards the average asking price was 52,920,000 Yen,…

Setagaya’s population exceeds 900,000 for first time

On October 14, the population in Tokyo’s Setagaya ward exceeded 900,000 for the first time. The main factor behind the population growth has been an increase in the supply of housing, particularly newly built apartments. Of the new residents, a number have been young students attending the many universities in the area. When the ward…

Tokyo office rents increase for 45th consecutive month

Tokyo office rents increase for 45th consecutive month

According to Miki Shoji, the average monthly office rent in central Tokyo’s five business districts reached 18,995 Yen per Tsubo (approx. 5,747 Yen/sqm) in September, an increase of 3.59% from last year and the 45th month in a row to record a year-on-year increase. The average is still 17% below the recent record high of…

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,…

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