With school closures, event cancellations and telecommuting becoming the new normal for us over the several weeks, let’s take a look at how Tokyo’s real estate industry is (or isn’t) doing its part to minimize the spread of the coronavirus.
1,029 total views, 12 views today
The number of brand-new apartments released for sale across greater Tokyo reached the lowest level seen for the month of February since 1975.
According to the Real Estate Economic Institute, February’s figures were not the direct result of the recent worldwide outbreak of the novel coronavirus. However, should economic conditions and consumer outlook worsen as a result of the unprecedented global slowdown, it is likely that Japan’s developers will continue to limit the supply of new apartments in the coming months.
933 total views, 3 views today
The historic Shibaura Kenban building in Tokyo will re-open in April after undergoing a full restoration. Built in the 1930s, this is said to be the only surviving pre-war, wood-frame ‘kenban’ in Tokyo. A kenban was traditionally an office that oversaw the operations of the geisha in the district.
1,029 total views
According to REINS, 3,749 second-hand apartments were reported to have sold across greater Tokyo in February, up 39.9% from the previous month and up 7.6% from last year. The average sale price was 35,730,000 Yen, up 2.7% from last year. The average price per square meter was 547,600 Yen, up 2.8% from last year. This is the 13th month in a row to see a year-on-year increase in sale prices.
933 total views, 9 views today
Nationwide land prices rose for the fifth year in a row this year, but hard-hitting effects of the novel coronavirus could put a swift end to Japan’s real estate recovery.
According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the nationwide ‘chika-koji’ assessed land price saw a 1.4% increase in 2020. This was a 0.2 point improvement from 2019’s 1.2% increase.
930 total views, 3 views today
Sales in a new condo in Tokyo’s Tsukiji district started on March 7. Atlas Tsukiji is an 11-story apartment building located just behind the Tsukiji Hongwanji temple and a 3-minute walk from Tsukiji Station.
1,206 total views
The discussion of delaying or even canceling the 2020 Tokyo Olympics has become a hot topic in recent weeks and has led to some questions about what will happen to the buyers of the 4,145 apartments in Harumi Flag – the condos that will be refurbished from the Athletes Village.
1,631 total views, 3 views today
Tokyo’s prime office vacancy rate hit a new record low in February, dropping 0.04 points from the previous month to 1.49%. This is the lowest vacancy rate seen since December 1990 when it was as low as 0.39%.
1,215 total views, 9 views today
The impacts of the coronavirus are being painfully felt by hotel and ryokan operators in Shizuoka’s popular hot spring locations. Hotels and onsens that have relied heavily on tour groups from China are now facing either temporary or permanent closure.
1,187 total views, 3 views today
This article is intended only for sellers who are looking to dispose of their property very quickly.
Selling real estate on the open market in Tokyo can typically take several months if the property is priced correctly. But, if you have bought into the wrong building or are trying to sell at the wrong time, it can take much longer – years even.
Real estate is illiquid and cannot be quickly traded like stocks. What if you need to sell in a hurry?
1,487 total views, 6 views today
