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%.
Existing apartment prices in Tokyo up 3.4% in 2019
The average asking price of a 70 sqm (753 sq.ft) existing apartment in Tokyo's 23 wards reached 55,660,000 Yen in 2019, up 3.4% from 2018. The average building age was 24.5 years, up from an average of 23.5 years in 2018.
Toranomon Hills Business Tower reaches completion this month
Construction of the 183-meter tall Toranomon Hills Business Tower was officially completed on January 21. The 36-story tower, designed by Ingenhoven Architects, forms part of Mori Building’s ongoing redevelopment of the Toranomon district.
New apartment supply in December drops 14.3%
According to the Real Estate Economic Institute, a total of 6,392 brand-new apartments were released for sale across greater Tokyo in December, up 94.1% from the previous month but down 14.3% from the previous year.
Aussie tourists turn their back on Niseko
Australians have been a long staple of Niseko’s winter crowd. But, recent tourist numbers show a shifting trend as Aussies shun the slopes of Niseko for the ski fields in Honshu.
In 2018, foreign tourists spent a total of 465,000 nights in Niseko. Visitors from Hong Kong, Singapore and other countries in Asia are up, while visitor numbers from Australia are down by much as 20% since 2015.
Musashino in talks to buy modernist residence
Musashino City is currently in discussions to acquire a modernist home designed by a renowned Czech architect.
Public housing block to receive heritage listing
Three public housing blocks in Tokyo’s Kita ward have been registered as tangible cultural properties by Japan’s Council for Cultural Affairs. The historic building registration was formalized in December 2019. These are the first public housing blocks in the country to receive a national heritage listing.