8% of short-term ‘minpaku’ rentals close since start of pandemic
According to the Japan Tourism Agency, the number of registered short-term ‘minpaku’ rentals nationwide has dropped from a peak of 21,385 in April 2020 to 19,520 as of March 2021.
Quick real estate news summary for the week
OYO sells short-term letting unit, New World resort for Niseko, and DeNa moves into WeWork. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Aoyama Asia Mansion being redeveloped
Asahi Kasei Realty & Residence Corporation and World Residential Co. are starting work on the redevelopment of the former Aoyama Asia Mansion in Shibuya this month. The 5-story, 60-year old condo was demolished in 2020 and will be replaced with a 14-story apartment tower.
Tokyo Apartment Sales in April 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of April 2021:
Osaka’s leaning apartment buildings ignored for 8 years
On April 27, the Sankei Shimbun newspaper reported on two neighboring apartment buildings in Osaka that are leaning to the point where they are now touching. One of the buildings was deemed at risk of collapse over 8 years ago, yet the building owner has taken no action. Several tenants continue to live in the buildings.
Six Senses and Banyan Tree to open in Kyoto in 2024
Six Senses and Banyan Tree will both be opening luxury hotels in Kyoto's Higashiyama district in 2024. Both hotels will be the first of their kind in Japan.
Quick real estate news summary for the week
UR acquires hotel in Harumi, LG sells office floor, and telework take-up sits at just 20%. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.