Historic ryokan sells for ¥212 million
The city of Fuchu in Hiroshima Prefecture will be purchasing a historic ryokan for an estimated 212.5 million Yen (approx. US$2 million).
Quick real estate news summary for the week
Hiroshima welcomes the region’s tallest apartment tower, housing starts drop in July, and a new flight route in Tokyo upsets tenants. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Hiroshima to demolish historic warehouses
Hiroshima Prefecture plans to demolish two of four historic warehouses in Hiroshima City. The 100+-year-old buildings survived the 1945 atomic bombing and are of significant importance to the city’s history.
53-storey condominium tower for Hiroshima
A 53-storey, 178m tall condominium is planned for downtown Hiroshima with completion scheduled for April 2020. This will be the tallest condominium based on total floor count to have been built across the Chugoku, Shikoku and Kyushu region since 1994.
‘hitoto Hiroshima The Tower’ is a 665-unit high-rise with 2 ~ 4 Bedroom apartments ranging in size from 55 ~ 143 sqm (592 ~ 1,539 sq.ft). A 80 sqm apartment on the 18th floor is expected to be priced in the 50 million Yen range (approx. 470,000 USD). Sales are scheduled to begin in mid-April 2018.Read more
New life for old homes in Onomichi
On the hillside leading up to Senko-ji Temple in Onomichi City, Hiroshima, sits an old wooden house built between 1921 ~ 1923. Despite being registered as a national tangible cultural property in 2013, the historic home had been left empty to rot on the hillside for decades.
Luckily, a local non-profit organisation has stepped in to restore the old property and convert it into a guesthouse. Repairs will start this month, with completion expected by February 2016.
Hiroshima to have tallest apartment building in region
Sumitomo Realty & Development announced the launch of a condominium in Hiroshima that will be the region's tallest apartment building when complete. City Tower Hiroshima will be 192 meters tall and contain 514 two, three and four-bedroom apartments.
Residential apartments will be on floors 13 to 52, with a lobby on level 12. The majority will be 3-bedroom apartments with an internal area of 75 sqm (807 sqft). Read more
Hiroshima's Naked Island sold
Sukune Island in Hiroshima Prefecture sold at public auction to a private bidder for 7,788,800 Yen. The price was a little over 3 times the evaluation price set by the court.
A total of 10 bids were made on the 7400 sqm island. The winning bidder is the manager of a rental apartment building in nearby Fukuyama City. The 73-year old does not have immediate plans for the island.Read more