Kamakura Museum of Modern Art at risk of demolition

Kamakura Museum of Modern Art 1

The Museum of Modern Art, Kamakura & Hayama is facing possible demolition as the prefecture has decided not to renew the land lease with the landowner (the nearby Tsurugaoka Hachiman-gu shrine). The prefecture's difficult financial situation has meant that they cannot continue to operate the museum and it is scheduled to close at the end of March 2016.Read more

by Zoe Ward

Mizuho's Real Estate Market Report

Mizuho Trust & Banking Co. released their Real Estate Market Report for October 2013. According to the data, second-hand apartment sales are making up a growing proportion of total apartment sales in both greater Tokyo and the Kinki region.

In Tokyo's 23 wards, around 10,000 second-hand apartments have been sold annually since 2010. The highest proportion of sales and the highest transaction volume is in Tokyo's central six wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya and Bunkyo).Read more

by Zoe Ward

September rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,545 Yen/sqm in September, down 0.2% from the previous month but up 2.7% from last year. The average apartment size was 59.31 sqm (638 sqft) and the average apartment age was 18.8 years.

In Tokyo's 23-ku, the average monthly rent was 3,095 Yen/sqm, down 1 Yen from August but up 3.0% from last year. The average apartment size was 56.20 sqm and the average age was 17.6 years.Read more

by Zoe Ward

Aussie investors in Niseko investigated for non-payment of taxes

Japan's National Tax Agency has discovered that 10 Australians have neglected to pay capital gains tax on the sale of real estate in Hokkaido's Niseko area. Approximately 56 million Yen (570,000 USD) in tax is owed, with an additional 14 million Yen (140,000 USD) in penalties.  Read more

by Zoe Ward

Former Tokyo Govenor's Residence in Shoto for sale

Tokyo Governors Residence 2Tokyo City are looking to sell the currently unoccupied former governor's residence in Shibuya and will be accepting offers over 3.3 billion Yen (33.8 million USD) from October 29.

This is the second time that the city has tried to sell the 2,200 sqm site. It was first listed in 2008 with a  minimum price of 4.8 billion Yen but no offers were made. Prior to the global financial crisis and Lehman Shock, real estate experts had suggested the property had a market value of around 6 billion Yen.

The city is hopeful that the property will be purchased by a foreign government to use as an embassy. They have already received interest from several countries. Read more

by Zoe Ward

Secondhand apartment prices in September - Tokyo Kantei

According to the latest report from Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 40,420,000 Yen in September, up 0.2% from the previous month and up 2.5% from September 2012. This is the sixth month in a row where prices have seen a month-on-month increase. The average price across Tokyo City was 36,930,000 Yen, up 0.3% from last month and up 1.0% from last year.

Read more

by Zoe Ward

Kyoto Kokusai Hotel to be sold

Kyoto Kokusai HotelFujita Kanko Inc announced that they will close the Kyoto Kokusai Hotel at the end of 2014 and sell the building and land. The hotel, which opened in 1961, overlooks the Nijo Castle in the centre of Kyoto. Read more

by Zoe Ward