ORIX Real Estate Corporation is developing a luxury ryokan in Atami’s Izusan district, with the hotel scheduled to open next winter. Atami Izusan Karaku sits on a 6,100 sqm site overlooking Sagami Bay and a 7-minute drive from Atami Station.
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The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in Tokyo’s central wards of Chiyoda, Minato, and Shibuya, has exceeded the 100 million Yen range in November, 2022.
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A low-rise retail and office building just behind Daikanyama Station sold for 1.877 billion Yen (approx. 14.3 million USD). The seller, Starhill Global REIT, entered into a sale agreement in December with an undisclosed buyer.
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The following is a selection of apartments that were reported to have sold in central Tokyo during the month of December 2022:
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As anticipated, banks have increased the rates on 10-year fixed-rate mortgages this month. This is in response to the Bank of Japan expanding the trade band for 10-year government bond yields to a range of -0.5% and 0.5%.
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2022 was a year of turmoil for markets, with interest rate rises, high inflation, and ongoing supply chain disruptions. Japan did not suffer to the same extent, with interest rates and inflation remaining low. The stable domestic conditions favored the real estate market with prices continuing to rise throughout the year.
Please feel free to view or download the PDF of our annual Japan Property Market Report, linked below.
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Please be advised that we relocated our office to a new location over the Christmas/New Year’s break. Our new address is:
H¹O Aoyama 401
3-1-30 Jingumae, Shibuya-ku
Tokyo 105-0001
TEL 03-6434-0801
Please note, we do not accept unscheduled office visits.
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Please be advised that our office will be closed for the New Year holiday from tomorrow, December 24, and will re-open on Thursday, January 5, 2023. We wish you a happy holiday and look forward to helping with your real estate needs in 2023.
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In an attempt to reverse the overconcentration of the population in the greater Tokyo region, the national government wants 10,000 residents to move to the countryside each year, a lofty goal for a megalopolis that saw a net inflow of over 80,000 residents in 2021.
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On December 16, Acao Spa & Resort announced plans for a 16 billion Yen (US$117 million) oceanfront luxury resort and artist colony in Atami.
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