Office vacancy rates and vacant floorspace down in August

Sanko Estate released their "Office Market" data report for high-rise office buildings with a floor plate of 660sqm or higher in Tokyo's central 5 wards (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) for the month of August, 2011. According to their data, the vacancy rate for August was 5.66% - down 0.45% from July.Read more

by Zoe Ward

Average apartment management fees increased by 3.3%

According to the most recent survey by the Real Estate Economic Institute, the average monthly management fee for an apartment in greater Tokyo was 223.72 Yen/sqm in 2010, an increase of 3.3% from 2009.Read more

by Zoe Ward

95% of apartments in Waterras Tower Sold Out

Sales of apartments in the still under-construction Waterras Tower Residence in Chiyoda-ku have been very strong with offers made on 95% of the 182 apartments offered for sale during the first sales period in August, 2011.

Approximately 30% of the sold apartments were priced over 100 million Yen (1.3 million USD) with the most expensive apartment priced at 300 million Yen (3.9 million USD). The average apartment price is 1,225,000 Yen/sqm (1478 USD/sqft). Over 1200 people visited the model room on August 22nd and there were over 6000 requests for property sales material.Read more

by Zoe Ward