Quick real estate news summary for the week

29 apartments foreclosed in high-rise tower, Osaka and Tokyo rank high on global livability, and Sapporo to sell Ebisu office building. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.

29 apartments foreclosed in Kachidoki high-rise tower

Gendai Business reported that 29 apartments in a five-year-old, 53-story high-rise condo in Kachidoki, Tokyo, have been foreclosed on by a lender based in Hong Kong. The apartments were purchased from the developer shortly after the building was completed in 2016 and would have cost around 2 ~ 3 billion Yen for the bulk purchase.

Osaka and Tokyo make top 5 livable cities in the world

The Economist Intelligence Unit has as the 2nd most livable city in the world in 2021, with Tokyo ranking 5th. Auckland, New Zealand, was in top spot, while Adelaide, Australia, placed 3rd and Wellington, NZ, placed 4th. This year’s rankings included additional criteria such as lockdown restrictions and the health care system in response to the pandemic. Cities with strict and long lockdowns fell down the list this year. Japan never had any hard lockdowns due to strong protections on personal rights.

Sapporo Holdings to sell Ebisu office building

Sapporo Holdings, via their real estate development subsidiary, will be selling their Ebisu First Square office building. The buyer is an unnamed domestic corporation and the sale price is not disclosed. A 22 billion Yen gain is expected to be posted on the sale. Ebisu First Square was built in 2014. It has 12 floors with a total floor area of 16,000 sqm.

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