Foreign buyers pipped at the post on land purchases in Hokkaido
Hokkaido Prefecture will be introducing support measures that will provide funding to local cities, towns and villages so that they may purchase tracts of land that foreign investors are planning to buy.
The measures are being introduced in response to growing concern over acquisition of forestry and water sources by foreign investors with unclear motives.Read more
Murky details about foreclosed illegal casino in Nishiazabu
On March 6th the Tokyo Police Department issued arrest warrants for Daisuke Shioda, the former president of ABC Home, and four associates for interfering with the public auction of a foreclosed property owned by ABC Home. However, Shioda has so far evaded capture and his whereabouts are unknown.
Shioda is accused of falsifying the ownership details on the real estate register of the property in order to prevent the property from selling at auction. He also lied and said that his mother and sister had 18 ~ 20 year leases on some of the floors in the building.Read more
Kepco demolishing old head office in Osaka
The Kansai Electric Power Company (KEPCO) announced that they will be demolishing and rebuilding their former head office in Osaka from April 2012. Completion of the new building is scheduled for April, 2014.Read more
Shiba Park Hotel to demolish north building
Shiba Park Hotel will be demolishing the main north building. Demolition work is being carried out by Ando Corporation and is expected to be completed by the end of June 2012.
The north building is 8 stories and has a total floorspace of 2891 sqm. The hotel was opened in 1949 and has 391 rooms.
Source: The Kentsu Shimbun, February 20, 2012.
Kobe Airport land not selling
Blocks of commercial land on the man-made Kobe Airport Island are not selling as well as expected. In 2011, not a single parcel of land was sold.
Construction of the island was financed through the issuance of municipal bonds, and the city planned to repay the bonds by selling off blocks of land to various enterprises.Read more
Bad news for Tokyo slumlords
As concerns grow over the number of aging vacant houses that pose a risk to the surrounding neighborhood, local wards and cities have begun to introduce regulations that will pressure owners into either repairing or demolishing their derelict properties.
-- Assistance of up to 1 million Yen --
Tokyo's Adachi-ku is densely crowded with wooden-frame houses and small workshops. Much of the area is considered to have a high fire hazard. Adachi-ku was the first ward in Tokyo to enact rules that obligate owners of dilapidated houses to either repair or demolish them. In the event of demolition, the ward will provide up to 1 million Yen (12,000 USD) in aid. Already, two buildings have been demolished under this new rule.Read more