Suruga searches for solution to share house scandal
Some sharehouse investment scam victims may soon be let off the hook if the bank at the center of the scandal gets its way. Suruga Bank is allegedly considering a proposal whereby borrowers could have their loans cleared if they return their mortgaged properties to the bank.
Nagano hot spring ryokan foreclosed a second time
The Rinsenro Kashiwaya Bessou Ryokan is up for foreclosure auction for a second time, this time with a minimum bid is set at 25,168,000 Yen (approx. 230,000 USD). Bidding is open from November 29 to December 6, with the winning bid to be announced on December 11.
Historic Harajuku Station building to be demolished
On November 19, JR-East announced that they will be demolishing the historic Harajuku Station building after the 2020 Summer Olympics. Built in 1924, this is the oldest surviving wooden station building in Tokyo.
New apartment supply in October hits lowest level on record
The supply of brand-new apartments released for sale across greater Tokyo in October dropped 29.5% from last year to just 2,007 units. This is the lowest level seen for the month of October since the Real Estate Economic Institute began recording data in 1973.
Shrine in Enoshima up for foreclosure auction
A Shinto shrine on Enoshima Island is up for foreclosure auction next month with a minimum bid set at 46.8 million Yen (approx. 430,000 USD).
100-yr old building to be converted into hotel
Heiwa Real Estate is in the process of converting a 100-year old office building in Nihonbashi into a small luxury hotel. The new hotel is scheduled to open next February.