Liquefaction in Sapporo caused by poor soil conditions
The September 2018 Hokkaido Iburi Earthquake resulted in severe liquefaction in part of Sapporo’s Kiyota Ward, leaving roads caved in and homes leaning at dangerous angles. As of October 3, as many as 1,452 homes had suffered damage in Kiyota Ward. This wasn’t the first instance for the neighborhood with liquefaction observed during the 2003 Hokkaido Earthquake which had an epicenter 300 kilometers away. The liquefaction hazard map issued by the city had previously designated this area as being of high risk for liquefaction damage.
Floor space across Japan increases by 0.2% in 2018
According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the total floor space of buildings across Japan totaled 7.73 billion square meters (approx. 83 billion sq.ft) as at January 1, 2018, a 0.2% increase from last year. Housing stock, including both private and public housing, saw a 0.2% rise and accounted for 74.3% of the total.
Kyoto’s most expensive apartment building is almost sold out
Kyoto City’s most expensive apartment building since 1995 is already close to selling out prior to the start of official sales. 90% of the apartments in The Kyoto Residence Gosho-Higashi have already been pre-sold to buyers, with the remaining 4 units offered in the first round of public sales held on October 13th. The four apartments are priced from 105 to 157 million Yen (approx. 935,000 ~ 1,400,000 USD). With an average price of around 1,600,000 Yen/sqm (approx. 1,325 USD/sq.ft), this is the most expensive apartment building to go on sale in the city since 1995. It has beaten a previous record set in 2015 by The Parkhouse Kyoto Kamogawa Gosho-Higashi which had an average price of between 1,300,000 ~ 1,400,000 Yen/sqm when new.
Greater Tokyo second-hand apartment prices increase for 69th month in a row
According to REINS, 3,244 second-hand apartments were sold across greater Tokyo in September, up 40.9% from the previous month and up 0.7% from last year. The average sale price was 32,920,000 Yen, down 0.8% from the previous month but up 2.0% from last year. The average price per square meter was 513,900 Yen, down 1.4% from the previous month but up 1.4% from last year. This is the 69th month in a row to record a year-on-year increase in prices.
Hulic opens small luxury resort in Lake Kawaguchi
On October 1, real estate corporation HULIC opened their latest small luxury resort near Lake Kawaguchi. ‘Fufu Kawaguchiko’ is part of HULIC’s Fufu brand of luxury ryokans.
Mitsukoshi to close historic department store in Niigata
Niigata City is losing major retail players due to a declining population and a shift in consumer habits towards online shopping and larger suburban malls. On September 26, Isetan Mitsukoshi Holdings announced the planned closure of their Mitsukoshi Department Store in the city by March 2020. The closure is expected to worsen the decline in the city center’s retail district.