Posts Tagged “Fukushima”

Town in Fukushima demands 19.2 billion Yen in compensation for lost real estate

The town of Futaba, which fell within the exclusion zone around the Fukushima nuclear plant, is demanding 19.2 billion Yen (234 million USD) in compensation from TEPCO for the loss of use of the town’s real estate.

The town is claiming damages for loss of use to town-owned land, government buildings and schools. There are a total of 51 unusable buildings that were mentioned in the claim. A representative from TEPCO said this was the first time they received a real estate related claim from a town or city. (more…)

2011 Tohoku Disaster, All , , , ,

High radiation levels from concrete in new apartment building

On January 15, the Cabinet Office’s Nuclear Emergency Response Headquarters and the Nihonmatsu City Council in Fukushima Prefecture announced that radiation levels of 1.24 microsieverts/hour were detected in a brand new 3-storey apartment building in the city. The levels exceed the radiation levels found outdoors and residents from the 1st floor of the building have been advised to move elsewhere. (more…)

2011 Tohoku Disaster, All, Buyer Beware! , ,

Houses in Iwate City to be decontaminated

Shidamyo, Iwaki City

Decontamination work has begun on houses in the Shidamyo and Ogi areas in Kawamaemachi-Shimookeuri, Iwaki City. The residential neighborhoods are 28 km south-west of the Fukushima Daiichi Nuclear Power Plant. By the end of this year they will have decontaminated 7 homes and by March, 2012, they hope to have decontaminated a total of 46 homes.

The area was reported as a hotspot with outside radiation levels of 1 ~ 3 microsievert/hr. In the initial days of the nuclear disaster, residents were ordered to remain indoors. The order was lifted on April 22nd. The city hopes that decontamination will reduce the level to below 0.5 microsievert/hr. Once the work is complete, they will re-measure the homes. (more…)

2011 Tohoku Disaster, All ,

7 Fukushima Golf Courses sue TEPCO for lost revenue

On November 30, 2011, seven of the forty golf clubs that form the Fukushima Prefectural Golf Association filed a claim against TEPCO for damages arising from loss of income.

The clubs have reported a total loss in revenue of 247 million Yen (3.16 million Yen) between March and August, 2011, which they say was directly attributed to the radiation fears from the troubled nuclear power plant. (more…)

2011 Tohoku Disaster, All , , ,

Tokyo real estate company buys nuclear waste dumping ground in Fukushima Prefecture

A construction company with ties to Mayor Kusano of Naraha Town in Fukushima Prefecture has sold a former stone quarry in neighboring Hirono Town to a Tokyo-based real estate company. The buyer said they have plans to use the quarry to dispose of radioactive material and rubble from the Fukushima Daiichi Nuclear Plant.

The site of the former stone quarry in Hirono Town is approximately 120,000 sqm and is 26 kilometers south of the nuclear plant in the emergency evacuation preparation zone. The closest neighbor to the quarry is an old farm house which is less than 200 meters away. Mayor Kusano’s eldest son operates the construction company that sold the quarry. It was sold in May, 2011, for 700 million Yen (9.1 million USD).  The size of the excavated pit in the quarry is approximately 1,300,000 cubic meters. (more…)

Real Estate News

Land purchases in tsunami-affected prefectures to be monitored

An old Tsunami street sign reminds residents of the height of the last Sanriku Tsunami in 1933. The March 11 Tsunami went further inland than the above sign.

The Ministry of Land, Infrastructure, Transport and Tourism announced on August 1 that plans have been made to monitor land transactions made in tsunami-affected prefectures in Northern Japan. From now on, experts are predicting a sudden jump in prices for elevated land in the disaster-stricken areas, so the three affected Prefectures of Iwate, Miyagi and Fukushima will be monitoring and sharing the data of land transactions.

As the coastal areas that were devastated by the March tsunami move towards rebuilding, there is growing fear that the elevated tracts of land that escaped the tsunami will see steep price rises as real estate companies and developers seek to buy up the land. (more…)

Earthquake Information, Real Estate News , , ,

Fukushima’s real estate market not expected to recover for at least 3 years

Fukushima Prefecture’s Real Estate Appraisal Association announced the results of their survey on the real estate market for Fukushima following the March 11 earthquake, tsunami and nuclear disaster. (more…)

Market Information, Real Estate News , , , , , , ,

Road for sale in Fukushima (Starting Bid: $12)

This road in Fukushima Prefecture has been seized by the local city and is up for public auction. The starting bid is 1,000 Yen (12 USD) for the 20sqm piece of land and asphalt. The road was built in 1973 and was designed to provide access to blocks of land for holiday villas. The management company, however, went bankrupt. (more…)

Foreclosed Properties, Other Properties ,
Go Top