Tokyo second-hand apartment sales down 10% in May

Real Estate Information Network for East Japan (REINS) announced their results for real estate transaction movements in the Tokyo area for the month of May, 2011.

A total of 2215 contracts were made on second-hand apartments. This is a fall of 10.7% compared to May of the previous year, and the second month of decline. In April, the decline was 14.4%. The average purchase price was down 0.5% to 25.31 million Yen (308,000 USD). The average apartment size was 65.09 sqm and average age was 18.19 years.Read more

by Zoe Ward

Tokyo Bayside Condominium Market - From Boom to Bust

Three months have now passed since the Tohoku Earthquake and Tsunami. The affected areas of Tokyo Bay are seeing a growing disparity between the desired purchase and selling prices of condominiums on the secondary market.

Difference of 10 million Yen between buyers and sellers

Buyers are anticipating a huge slump in prices for bayside apartments. On the other side, sellers are still hoping to sell their apartments at pre-earthquake values - a time when the bayside areas were seeing huge rises in popularity.Read more

by Zoe Ward

The 2011 Japan earthquake and what it means for the real estate market

One month has passed since the March 11 Tohoku earthquake and tsunami. With strong aftershocks continuing and a nuclear disaster that was just upgraded to the maximum level, uncertainty remains over what will happen to the Japanese economy in the short and medium term.Read more

by Zoe Ward

A message from Minato City regarding the Tohoku Earthquake

On April 5, 2011, Minato City released the following bulletin:

Damage within Minato-ku as of March 12, 2011

Minato-ku experienced a Shindo level (seismic intensity scale) of lower 5 on March 11. The whole of Tokyo was reported to have a Shindo level of upper 5, but exact levels within Tokyo varied. Click here to read about the Japanese seismic scales.Read more

by Zoe Ward

Damage to Urayasu City and Tokyo Disneyland

The effects of March 11's earthquake were felt in Tokyo's bayside area which is mostly reclaimed land. There were cases of liquefaction, broken water pipes, gas outages and leaning buildings.

"The north side of our house has sunk about 20cm due to liquefaction and is leaning. Watery sand covered the garden." - reported one resident.Read more

by Zoe Ward

March 11 Earthquake and the condition of Tokyo

The initial quake hit early on a Friday afternoon while many people were working. Tokyo's 23 Wards recorded a Shindo Level of 5-upper. Click here to read about the Japanese seismic sales.

Immediately after the quake, shopowners and local residents went to check on each other. Many officeworkers had vacated their buildings and were waiting on the streets when a strong aftershock hit about 30 minutes later.Read more

by Zoe Ward

Nomura to rebuild two apartments in Shirokanedai

Nomura Real Estate Development announced that they have the tender to re-build two adjacent condominium apartments in Shirokanedai, Minato-ku.Read more

by Zoe Ward