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.
Greater Tokyo second-hand apartment prices increase for 72nd month in a row
According to REINS, 2,987 second-hand apartments were reported to have sold across greater Tokyo in December 2018, down 7.4% from the previous month and down 0.8% from the previous year. The average sale price was 33,800,000 Yen, up 2.5% from the previous month and up 1.8% from 2017. The average price per square meter was 524,100 Yen, up 3.1% from the previous month and up 0.9% from 2017. This is the 72nd month in a row to record a year-on-year increase in sale prices.
Takarazuka City to give away historic home
The former Yasuda Residence in Takarazuka City may soon be donated to a private enterprise, with applications from interested parties to be held sometime in February or March this year.