Tokyo Stock Exchange negotiates lower rent on headquarters

Heiwa Real Estate Co. announced on August 24th that their major tenant, the Tokyo Stock Exchange (TSE), had negotiated for a lower rent of 4.412 billion Yen (57.3 million USD) per year for the TSE headquarters in Tokyo's Nihonbashi area. This is a discount of 8.3% on the previous rent. The current contract is for two years, after which time the rent will be adjusted according to economic conditions.Read more

by Zoe Ward

Bank of China to offer home loans to Chinese residents in Japan

Mitsui Real Estate Sales announced on August 24th that they have tied up with the Bank of China (BOC) to provide mortgages for Japanese properties to Chinese residents in Japan.

The new loan product was introduced by the BOC in June, 2011, and is aimed at Chinese who currently reside in Japan but do not have Japanese citizenship. Domestic Japanese banks can also provide financing but they have much stricter terms and conditions. The BOC aims to lower the hurdles to borrowing.Read more

by Zoe Ward