Old Atami hotel sold to Tokyo-based hotelier
September 26, 2016AtamiReal Estate News,All,Hotel News
Ooedo-Onsen-Monogatari Co., Ltd. acquired Hotel Mizuhatei in Atami City on September 12 for an undisclosed sum. The 11-storey hotel is located alongside the No. 135 National Highway and overlooks Sagami Bay.Read more
APA breaks ground on new residential project in Nishiazabu
September 23, 2016Nishiazabu,Nishiazabu Real Estate,The Conoe NishiazabuNew Construction,Real Estate News,All,Tokyo
Hotel and apartment developer, APA Group, broke ground on a new high-end condominium project in Nishiazabu’s 4 Chome address earlier this month.
The Conoe Nishiazabu will be a 6-storey building containing just 16 spacious residences. The one and two bedroom apartments will range in size from 82 ~ 157 sqm (882 ~ 1,689 sq.ft), with an average size of 120 sqm. The typical size of a 3-Bedroom apartment in Tokyo is around 70 square meters, so these one and two bedroom apartments will have considerably spacious layouts.Read more
Commercial standard land prices in Japan’s big cities increase for 4th year in a row
September 22, 2016Standard Land Prices (Kijun-Chika)Land,Real Estate News,Market Information,All,Osaka,Nagoya,Tokyo

The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced this year’s Standard Land Prices on September 20.
Nationwide, land prices declined for the 25th year in a row with a 0.6% decrease, although the rate of decline is slowing. Meanwhile, commercial land prices stopped their downwards trend for the first time in 9 years.
Land prices in Japan’s urban centres of Tokyo, Osaka and Nagoya continued to benefit from booming foreign tourist numbers, redevelopment and infrastructure projects, shrinking office vacancy rates, and monetary easing.
Commercial land prices in these three cities increased by 2.9%, representing a fastening pace after 2.3% growth in 2015 and 1.7% growth in 2014. In the Tokyo metropolitan area, commercial land prices increased by 4.1% in 2016, after a 3.3% increase in 2015. In Osaka city, they were up 4.7% this year.Read more
Land in Ginza sells for 43 million Yen/sqm
September 21, 2016Ginza Real Estate,Ginza,Ginza land pricesOffice/Retail News & Information,Real Estate News,All,Tokyo
In August, railway operator Hankyu Corporation acquired a block of vacant land in Ginza for 13.5 billion Yen (approx. 132 million USD). The purchase price worked out to be approximately 43,700,000 Yen per square meter (40,000 USD/sq.ft), or around 4,500,000 Yen per buildable square meter (4,100 USD per buildable square foot) based on a potential 3,000 square meter building.
The 308.88 square meter (3,323 sq.ft) corner block of land is located alongside Namiki Dori Avenue. It was originally the site of the 10-storey Tokyo Chusha Building, which had a total floor area of 3,000 square meters (32,280 sq.ft). The building was demolished in 2015.
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City suing for ownership of ancient tomb in Osaka
September 20, 2016Historic Properties,Land,All,Osaka,Laws and Lawsuits
Fujidera City in Osaka Prefecture has filed a lawsuit seeking the transfer of ownership of land containing a 1,500 year-old ancient tomb.
Called a ‘kofun’, the ancient tomb is part of the Mozu and Furuichi Kofun-gun group of tombs constructed between the 3rd and 7th century AD in the Osaka area. The city is hoping to have the tombs registered as UNESCO World Heritage Sites, and owning the land would help to ensure its protection and preservation.Read more
Average apartment rent in August 2016
September 19, 2016Real Estate News,Rental Market,Market Information,All,Osaka,Nagoya,Tokyo
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,661 Yen/sqm in August, up 0.3% from the previous month and up 2.7% from last year. The average apartment size was 60.26 sqm and the average building age was 19.7 years.
In the Tokyo metropolitan area, the average monthly rent was 3,223 Yen/sqm, up 2.5% from the previous month and up 1.4% from last year. In the Tokyo metropolitan area, the average apartment age decreased from 18.3 years to 17.6 years, which contributed to the increase in the average rent from the previous month. The average apartment size was 57.73 sqm.Read more
New apartment supply in Tokyo down for 9th month
September 16, 2016Real Estate News,Market Information,All,Osaka,Tokyo

According to the Real Estate Economic Institute, 1,966 new apartments were released for sale in greater Tokyo in August, down 40.7% from the previous month and down 24.7% from last year. This is the 9th month in a row to see a year-on-year decline in supply.
1,310 apartments were sold, resulting in a contract ratio of 66.6%, up 3.3 points from the previous month but down 7.7 points from last year. 435 apartments in high-rise buildings (over 20-storeys) were released for sale, down 1.6% from last year. The contract ratio was 73.1%, down 12.2 points from last year.
The average price of a new apartment across greater Tokyo was 56,620,000 Yen, up 0.1% from the previous month but down 3.6% from last year. The average price per square meter was 798,000 Yen, down 1.0% from the previous month and down 3.2% from last year.Read more