Shoto Noh Theatre may be on the market

Shoto Kanze Noh TheatreThe owners of the Kanze Noh Theatre in Shoto, Shibuya, are looking into selling the building and land. The head of Yodobashi Camera is a possible buyer, having reportedly expressed an interest to redevelop the property into a private guest house to accommodate his foreign visitors.Read more

by Zoe Ward

Secondhand apartment prices in Tokyo City up 8.1%

According to REINS, 1,559 second-hand apartments were sold in Tokyo City in September, up 21.2% from September 2012 and up 41.1% from the previous month. A total of 3,123 second-hand apartments were sold across greater Tokyo for the month, up 12.5% from last year.

The average sale price across greater Tokyo was 26,540,000 Yen, up 6.5% from last year and up 3.8% from August. The average price per square meter was 409,500 Yen, up 8.7% from last year and up 2.3% from August.Read more

by Zoe Ward

Office vacancy rates in September - Miki Shoji

PMO Kanda TsukasamachiAccording to Miki Shoji's office report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.90% in September, down 0.26 points from last month and down 1 point from last year. This is the third month in a row where rates have fallen. It is the first time since November 2009 that vacancy rates have been in the 7% range.

The vacancy rate in new buildings was 18.12%, up 0.19 points from last month but down 11.50 points from September 2012.Read more

by Zoe Ward

Kobe's Jonas Residence to be torn down after sale falls through

Kobe Shioya Jonas ResidenceThe final bid to save the former Jonas Residence in Shioya, Kobe, from demolition has failed after the possible buyer backed out of discussions.

In late September a renewable energy-related company began negotiations with the seller - developer Anabuki Kosan - to purchase the historic house and land. Unfortunately the two parties could not come to an agreement on the sale price and the buyer walked away from the deal on October 10.Read more

by Zoe Ward

Hotels worried about new earthquake-retrofitting obligations

Nikko HotelsFrom November, large-scale buildings such as hotels built before 1981 will be obligated to ensure that their buildings meet current earthquake-resistant codes.

Building inspections must be carried out before the end of 2015, after which the results will be made public. This has left some hotels worried that guests will avoid places that receive a low score. However, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) says that this information is necessary for hotel guests.Read more

by Zoe Ward

Residential yields and vacancy rates in Minato-ku - October 2013

According to real estate listing site Homes, the average yield on an apartment in Minato-ku in October was 5.8%, down 0.2 points from last month. The average yield across Tokyo was 7.7%, down 0.2 points from September.Read more

by Zoe Ward

Osaka may lift ban on rental apartments along Midosuji Avenue

Midosuji Avenue OsakaFrom the next fiscal year onwards, Osaka City will allow the construction of rental apartment buildings alongside Midosuji Avenue.

Currently, only commercial and retail buildings are allowed along the tree-lined street.Read more

by Zoe Ward