Tokyo Apartment Sales in June 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2019:
Toho Twin Tower to be redeveloped
On June 25, film studio Toho announced plans to redevelop the Toho Twin Tower building in Yurakucho, Tokyo. Construction giant Takenaka Corporation will be in charge of planning and construction.
Edogawa-ku a no-go zone in event of major flood
The wording on a flood hazard map issued by Edogawa Ward in Tokyo has created a stir with the ward essentially telling residents to get out of town in the event of major flooding.
Rosenka land values increase for 4th year in a row
The rosenka land values for 2019 were announced by the National Tax Agency on July 1. Nationwide, land values increased by 1.3%. This is the fourth year in a row to record a year-on-year increase. The rate of growth has also expanded, following 0.7% in 2018, 0.4% in 2017 and 0.2% in 2016. This is the first time to see four years of consecutive growth since 1992.
New housing starts forecast to drop a third by 2030
The Nomura Research Institute is forecasting a significant drop in new housing starts across Japan by 2030.
Kyoto’s office shortage is getting dire
Kyoto’s shortage of office space is becoming critical as vacancy rates drop below 1%. With a booming tourist industry, developers have been focusing on building hotels, leaving very little supply of new offices.