New apartment supply in Kyoto increases for first time in 5 years
The supply of brand new apartments released for sale in Kyoto City in 2018 increased for the first time in 5 years to 1,277 units. This was a 4.7% increase from 2017. Supply in the city center, however, is exceedingly low with developers focusing on building hotels to cater to the city’s booming tourism industry.
Pricing announced for Proud Ebisu Hillside Garden
The first round of sales in Proud Ebisu Hillside Garden - a luxury mixed-use condominium and hotel in Ebisu, Tokyo - started over this past weekend with 40 apartments on offer, representing almost 70% of the total apartments that will be released for sale.
Japanese Government to buy island in Kagoshima for 16 billion Yen
The Japanese government will soon be signing a sale agreement with the owner of Mageshima Island in Kagoshima Prefecture for 16 billion Yen (approx. 147 million USD) with settlement expected to take place in March. The owner of the majority of the island is a Tokyo-based developer.
HULIC to flip Odaiba Hilton for 2 billion Yen profit
Real estate company HULIC has agreed to sell the Hilton Tokyo Odaiba hotel for 62.4 billion Yen (approx. 573 million USD) to the Japan Hotel REIT. The sale will take place in April 2019 and will represent the highest valued hotel held by a REIT within Japan.