Kyoto’s shortage of office space is becoming critical as vacancy rates drop below 1%. With a booming tourist industry, developers have been focusing on building hotels, leaving very little supply of new offices.
A tea house that once belonged to Okubo Toshimichi (1830-1878) has narrowly escaped demolition in Kyoto. The owner has temporarily suspended demolition while the tea house is carefully dismantled and stored. Due to its historical significance, Kyoto City is considering potential ways to relocate and reconstruct it.
Kyoto City is fast becoming a hotspot for out-of-towners buying holiday homes.
The heritage-listed Watanabe Residence in Maizuru City, Kyoto Prefecture, is listed for sale for 25,800,000 Yen (approx. 235,000 USD), leaving locals concerned about its fate. The 150-year old merchant house is registered as a Tangible Cultural Property.
In 2018, the Kansai area was struck by an earthquake in June and typhoon Jebi in September. Although the effects of these two events had very little impact on Kyoto’s tourism industry, they did affect Osaka which saw a drop in visitor arrivals from other Asian countries. STR’s Global Hotel Study for 2018 reported a 7.7% drop in the room revenue index for Osaka, while Kyoto saw a milder 0.2% decrease.
Given that these two cities are only 13 minutes apart by bullet train, why did Kyoto perform better than neighboring Osaka?
Kyoto’s traditional merchant townhouses (machiya, or kyo-machiya) form an integral part of the historic city’s charming streetscapes and culture, yet are being demolished at a shockingly fast pace.
On February 7, Mitsui Fudosan released details on a luxury hotel planned for the eastern side of Nijo Castle in Kyoto.
We have reduced the price on our restored Kyoto machiya townhouse to 59,000,000 Yen (approx. 533,000 USD at today’s exchange rate).
A traditional townhouse dating back to the 1400s in Kyoto was demolished at the end of August. The Kawai Residence, located alongside the Tenjin River in Nakagyo Ward, was the oldest surviving townhouse in the city.
Home goods store FrancFranc will open their Masterrecipe branded flagship store in a traditional townhouse in Kyoto’s Gion district today.