Japan’s tallest and biggest residential project planned for Shinjuku
Nomura Real Estate Development, Tokyo Tatemono and two other developers are preparing to embark on one of Japan’s largest residential developments. Two 235-meter tall, 65-storey apartment buildings are planned for a site on the edge of Shinjuku’s bustling business district. The two towers will contain a total of 3,200 apartments.
Construction is scheduled to start in 2019, with completion by 2026. When complete, the two towers will be the tallest residential buildings in Japan based on floor count, and the largest development based on total apartment count.Read more
Residential yields in Minato-ku - May 2016
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in Tokyo was 4.2% in May 2016, down 0.1 points from the previous month and down 0.5 points from last year. The average yield across Tokyo was 6.3%, up 0.3 points from the previous month but down 0.3 points from last year.
The average asking price for a second-hand apartment in Minato-ku was 971,614 Yen/sqm as of May 1, up 0.2% from the previous month and up 11.7% from last year. The average asking price for land was 1,375,151 Yen/sqm, up 0.9% from the previous month and up 13.5% from last year.Read more
Shinagawa apartment building sells out 12 months prior to completion
All 452 apartments in a 20-storey building under construction in Tokyo’s Shinagawa-ku have sold out 12 months prior to delivery.
Ober Grandio Shinagawa Katsushima is a new development by Taisei-Yuraku Real Estate and Haseko Corporation. Is is located on Katsushima - a man-made island built in 1949 as a warehouse district.
Sales were supported by pricing that was comparatively low for the Shinagawa area. 70 sqm (753 sq.ft) 3-Bedroom units were priced from 38 million Yen (355,000 USD), and 80 sqm (861 sq.ft) 4-Bedroom units were priced from 46 million Yen (429,000 USD).Read more
Residential tower planned for site opposite Olympic Stadium
Gaien House, a 52 year old condominium located in a prime position across the street from the Olympic stadium site and Meiji Jingu Baseball Stadium, is about to be demolished and replaced with a 22-storey building containing apartments, commercial/retail space and childcare facilities. The project forms part of the Jingu-Gaien District Redevelopment, which also includes the demolition of the old Kasumigaoka Public Housing blocks, and the construction of new buildings for the Japanese Olympic Committee and Japan Sport Council.Read more
Tokyo Apartment Sales in April 2016
The following is a selection of apartments that were sold in central Tokyo during the month of April 2016:Read more
Japan’s high-rise market from 2016 onwards
According to the Real Estate Economic Institute, there are 238 high-rise residential buildings containing a total of 89,844 units planned for completion across Japan from 2016 onwards. This is an increase of 48 buildings and 11,544 units from the previous survey point in March 2015.
65,012 units are located in the greater Tokyo region, representing 72.4% of the supply nationwide. 45,577 units in 92 buildings, representing 50.7% of the supply, are located in Tokyo’s 23 wards. In Tokyo’s Chuo-ku, which includes the bayside islands, 12,481 apartments are currently planned, representing 27.4% of the supply in Tokyo’s 23 wards.Read more
53-storey hotel and residential complex for Nishiazabu
Redevelopment discussions are moving forward for a prime site located directly across the street from Roppongi Hills. Although details are still under discussion, the project could be a mixed-use tower containing a 100-room hotel and 370 rental and condominium-type apartments.
According to a 2015 Investor Relations publication by Nomura Real Estate, the development may include a 53-storey tower with construction scheduled to start in 2018 and be completed by as early as 2022. It is possible that government allowances could result in a taller building than previously proposed.Read more