Inside a $16 million Tokyo Penthouse

Hirakawacho Mori Tower Residence Penthouse 14Hirakawacho Mori Tower Residence
23rd floor 5-Bedroom Penthouse
424.98 sqm (4,570 sqft)

1,300,000,000 JPY (~USD 16 million)

Last week I had the chance to view the largest of the four penthouse apartments in Mori's newest building in Hirakawacho. The interior has marble and hardwood flooring and wood panelling. There are four separate entrances to the unit (main, kitchen, maid and emergency use). The formal living room has a gas fireplace and balcony.  The formal dining room overlooks the Imperial Palace and Marunouchi.

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by Zoe Ward

Komazawa 3 Chome House (SOLD)

komazawa-3-house-exterior

*UPDATE: SOLD in October 2010*

Built in 1992, this large 4-bedroom house has a 3-car lock up garage, internal courtyard and a “irori” fireplace in the Japanese tatami room.

The house is in a quiet residential neighborhood directly across the street from Komazawa Ryokusen Park and is a 9 minute walk from Sakura-shinmachi Station. Read more

by Zoe Ward

Japanese Villa in Atami

nishiyama-villa-3

Price: 230,000,000 Yen No longer on the market

This beautiful traditional Japanese house and garden in Atami City was built in the early Showa period and was previously owned by Viscount Torio. The spacious property includes the main house, tea house, guest house, and a large Japanese garden with flowing stream. Water from the natural hot springs can be drawn in the bathroom of the main house.

Atami City is only 39 minutes by Shinkansen from Tokyo Station. The house is a 15 min drive from Atami Station, or a 9 minute walk from Kinomiya Station.Read more

by Zoe Ward

Tokyo Earthquake Damage Risk Ratings

The Bureau of Urban Development in the Tokyo Metropolitan Government conducts an earthquake assessment every 5 years, with the latest carried out in 2008. The investigation covers 5,073 neighborhoods in Tokyo. They provide a rating for the following categories:

  • Vulnerability to Building Collapse (Ground liquefaction, Construction methods, Age of buildings etc)
  • Fire Hazard Rating (Spreading of fires, Fireproof buildings, firebreaks such as parks etc)
  • Overall Hazard RatingRead more

by Zoe Ward

Japanese Land Values Decline at Slower Rate

A recovery in housing demand is slowing the decline in land values in Japan, according to a survey by the Ministry of Land, Infrastructure, Transport and Tourism.

Of the surveyed locations, 45 had no decline in value, with 3 of those sites reporting an increase in value. Compared to results from previous quarters, the total number of locations reporting a decline in values was 70%, down from 82% from the last quarter, and 96% from the quarter before that.

Continue reading the full article at Bloomberg here.

by Zoe Ward

Roppongi Tokyo Club Residence Popular With Buyers

The Roppongi Tokyo Club Residence has seen positive sales activity. From the initial release of 95 units in mid-July, 86 have received applications.Read more

by Zoe Ward

Why are the Chinese buying real estate in Japan?

Although it is reported almost every other day in the Japanese news, this Financial Times article provides a simple summary of why Chinese buyers are investing in Japanese real estate. Some of the reasons include attractive rental returns, capital gain on refurbishing apartment buildings and selling to other Chinese investors, or simply buying a vacation home. Despite the media attention, foreigners only represent a very small portion of the real estate market in Japan.

Article: Financial Times - Global Economy, August 19, 2010.

by Zoe Ward