Japanese developer aquires partial share of luxury Yoyogi rental
Real estate developer Rebita has acquired a partial ownership interest in luxury rental complex Grosvenor Place Kamizono-cho.
New guidelines to define stigmatized properties
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) is planning to create clear guidelines regarding the sale and rent of stigmatized properties. Currently, confusion and uncertainty about what is and isn’t a psychological impact have led to numerous disputes between tenants and landlords.
Blackstone buys back portfolio in largest real estate deal in Japan’s history
US equity firm Blackstone Group has paid around 300 billion Yen (approx. US$2.75 billion) to buy back a portfolio of real estate assets across Japan in what is the biggest single real estate transaction in the country’s history.
Tokyo Apartment Sales in January 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of January 2020:
Greater Tokyo sees net inflow in population for 24th year
The population of the greater Tokyo area (Tokyo, Kanagawa, Saitama, and Chiba) saw a net inflow in 2019 of 148,783 new residents, a 6.4% improvement from 2018, and the 24th year in a row to see positive growth.
400-meter long building for Nagoya Station area
Four developers are working towards a large-scale redevelopment that will see a 400-meter long, 30-story mixed-use building for the Nagoya Station area.
New apartment supply in 2019 reaches lowest level in 27 years
In 2019 a total of 31,238 brand-new apartments were released for sale across greater Tokyo, down 15.9% from 2018 and the first time in three years to see an annual drop. Supply has dropped to a third of the level seen in 2000.
Tokyo’s 23 wards saw a 13.9% drop, while Kanagawa saw supply fall by 12.5%.