Living in a love hotel

Rent: 58,000 ~ 81,000 Yen/month

Tokyo-based property company, Landmarks Co., Ltd, have redeveloped a former love hotel in Sumida-ku into a rental apartment building. The studio apartments now have mini kitchens, bathrooms and, with the help of several designers, are finished in various modern and eclectic styles. The rooftop terrace was converted into a BBQ deck for residents (a rare thing to have in Tokyo apartments). The apartments have high-speed internet access, air-conditioning and there is also a washer/dryer room.Read more

by Zoe Ward

July Market Data

  • Average new apartment price down 3.7% in Tokyo
  • No. of high-rise apartments fall 69.5%
  • Office vacancy rates down in both Tokyo and Osaka

NEW APARTMENT SUPPLY DOWN:

Brand new apartments listed for sale in the Tokyo area in July fell 1.3% compared to a year earlier to 4073 units. This is the second month of decline. This is due in part to apartment showrooms opening for shorter hours to conserve power, less activity by developers and a general constraint in supply as material shortages and restrained buying cause developers to delay sales activity.Read more

by Zoe Ward