Our Japan Property Market Report for 2020
Last year was full of upheaval. Focusing solely on the real estate side of things, some sectors performed poorly, while others thrived. We have summarized the year’s events into our annual Japan Property Market Report.
Quick real estate news summary for the week
Tokyo’s office vacancy rate reaches 4.49%, 693-room hotel to be built in Roppongi, while other hotels temporarily close. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Government may introduce notification requirements for foreign buyers of sensitive land
The government is considering introducing legislation that would require advance notice to be submitted when a foreign national is purchasing land in or nearby areas considered to be of national importance. The draft bill is expected to be submitted to parliament sometime this year.
Japan property price index for September 2020
The latest property price index for Japan was released by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) on December 25.
Apartment rents in Tokyo hit record high in 2020
In spite of the widespread coronavirus pandemic and a state of emergency disrupting schools and workplaces, the average advertised rent of a condominium-type apartment across greater Tokyo hit the highest level on record in 2020.
Central Tokyo apartment sale prices reach new record high in December
According to REINS, 2,533 secondhand apartments were reported to have sold across greater Tokyo in December, down 9.9% from 2019. The average sale price was 37,390,000 Yen, down 0.5% from the previous month but up 5.3% from the previous year. The average price per square meter was 575,300 Yen, up 1.1% from the previous month and up 4.8% from the previous year. This is the 8th month in a row to record a year-on-year increase.
Quick real estate news summary for the week
Barneys closes Shinjuku store, ‘Himeji’s Trump’ real estate holdings hit with provisional administration order, and developer sells luxury rental apartment building in Tokyo. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.