Tokyo's oldest ‘danchi’ apartment block to be redeveloped
Possibly the oldest surviving public housing block in Tokyo will soon be demolished to make way for new housing for its residents. The Nakano Jutaku was built in 1951, just six years after the end of WWII. It also preceded the former Japan Housing Agency (now the Urban Renaissance Agency) that was founded in 1955 to address a severe housing shortage.
Omotesando retail sells for 6.5 billion Yen
Takara Leben Real Estate Investment Corporation will pay 6.52 billion Yen (approx. 61 million USD) to acquire the trust beneficiary rights to the Almost Blue retail building in Omotesando. The sale is expected to take place this month.
Kyoto aiming to become a start-up city
Kyoto has set its sights on being selected by the national government as a Start-Up City, according to a joint announcement made by the Kyoto Prefectural Governor and Kyoto City Mayor on August 28. The goal of this program is to create Japan’s own Silicon Valley.
New apartment prices in Japan since 1956
For those interested in historic real estate data, Tokyo Kantei has released a graph of new apartment prices across Japan between 1956 and 2018.
Kyoto’s former red-light district now a hotspot for investors
Gojo-rakuen, a former red-light district between Gojo and Kiyomizu-Gojo Stations and along the western side of Kamo River, is now a hotspot for fast-moving investors. The neighborhood is undergoing rapid gentrification into a trendy tourist district, while land values are seeing strong growth.
Tokyo Apartment Sales in August 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of August 2019:
House in Minami Aoyama sells for 3.8 billion Yen
Apparel company Onward Holdings has sold a company-owned house in Minami Aoyama for 3.81 billion Yen (approx. 36 million USD). The buyer was developer Tokyu Land.