Apartment transactions up in February
According to REINS, 3,484 second-hand apartments were reported to have sold across greater Tokyo in February, up 30.6% from January and up 1.8% from last year. The average sale price was 34,730,000 Yen, up 5.4% from the previous month and up 3.6% from last year. The average price per square meter was 531,600 Yen, up 3.3% from the previous month and up 3.8% from last year.
Omotesando’s Children Castle and UN University to be redeveloped from 2029
After agreeing to purchase the National Children’s Castle building and land from the national government this year for 60 billion Yen (approx. 543 million USD), the Tokyo Metropolitan Government is firming up plans to completely redevelop the site along with adjoining sites from 2029 onwards. Update: The final sale price was 52.5 billion Yen.
Osaka to have luxury high-rise rental apartments in 2022
A high-rise apartment tower under construction in Osaka’s Umeda district is set to become the region’s largest high-end rental building. The 56-storey, 191m tall building will have 836 rental apartments. Completion is scheduled for early 2022.
Building in Saitama sells for minus 7 million Yen
A long-vacant school gymnasium building and land in Saitama Prefecture sold for a negative amount last December. The seller, Fukaya City, will pay 7,950,000 Yen to the buyer of the property. This is the first case in Japan of an auction being held with a negative starting price for bidding.
First Banyan Tree Hotel to open in Kyoto
Banyan Tree Hotels & Resorts has chosen Kyoto City as the location of their first hotel in Japan.
Jingumae 6 Chome redevelopment gets city approval
On February 15 the Tokyo Metropolitan Government approved construction plans for the Jingumae 6 Chome district redevelopment. The site is located in a prime retail position at the corner of Omotesando Avenue and Meiji Dori Street and above the Meiji-jingumae subway station.
Tokyo Apartment Sales in February 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of February 2019: