Tokyo Apartment Sales in January 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of January 2019:
First Cabin to open ryokan-style accommodation in Kyoto machiya
First Cabin, a Tokyo-based developer and operator of capsule-style accommodation across Japan, announced plans to open a cabin-style hotel in a traditional machiya-style townhouse in Kyoto. The new hotel will open on March 28, 2019.
Central Tokyo apartment asking prices reach record high in December
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo was 37,290,000 Yen in December 2018, up 0.5% from the previous month and up 3.2% from December 2017. The average building age was 24.3 years.
New apartment supply in Kyoto increases for first time in 5 years
The supply of brand new apartments released for sale in Kyoto City in 2018 increased for the first time in 5 years to 1,277 units. This was a 4.7% increase from 2017. Supply in the city center, however, is exceedingly low with developers focusing on building hotels to cater to the city’s booming tourism industry.
Pricing announced for Proud Ebisu Hillside Garden
The first round of sales in Proud Ebisu Hillside Garden - a luxury mixed-use condominium and hotel in Ebisu, Tokyo - started over this past weekend with 40 apartments on offer, representing almost 70% of the total apartments that will be released for sale.
Japanese Government to buy island in Kagoshima for 16 billion Yen
The Japanese government will soon be signing a sale agreement with the owner of Mageshima Island in Kagoshima Prefecture for 16 billion Yen (approx. 147 million USD) with settlement expected to take place in March. The owner of the majority of the island is a Tokyo-based developer.