Hankyu Realty planning 2 residential projects for Tokyo's top neighbourhoods
Hankyu Realty, an Osaka-based real estate developer, is developing two high-end projects located in Tokyo's prime residential neighbourhoods of Aoyama and Azabu.
Motoazabu 3 Chome Project:
A 5-storey apartment building containing 19 units, and walking distance from Roppongi Station. The 1,000 sqm site, which has been a car park for several years, was listed for sale back in 2010 for 1.18 billion Yen. It is just 400 meters from Roppongi Hills and across the street from the San Marino Embassy. Read more
Half of Sapporo's new apartments remain unsold
For the first time in five years, more than half of the newly completed condominiums in Sapporo City remain unsold. Although sales were strong in 2013, buyers are becoming increasingly priced out of the new apartment market due to rising prices. These prices have been underpinned by higher construction costs, including raw materials and labour, which means that developers are either unable or reluctant to reduce the end prices offered to consumers.
Over 90% of Hokkaido’s new condominiums are located in Sapporo. In 2015, 51% of units in condominiums that had already been completed remained unsold by developers.Read more
Tokyo apartment asking prices increase for 21st consecutive month
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in March 2016 was 33,840,000 Yen, up 0.8% from the previous month and up 14.5% from last year. The average building age was 22.0 years.
In the Tokyo metropolitan area, the average asking price was 46,860,000 Yen, up 0.9% from the previous month and up 15.5% from last year. This is the 21st month in a row to see an increase in prices. The average building age was 21.5 years.
In Tokyo’s 23 wards, the average price was 51,790,000 Yen, up 0.3% from the previous month and up 14.2% from last year. The average building age was 21.5 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 71,460,000 Yen, up 0.5% from the previous month and up 10.5% from last year. The average building age was 20.0 years.Read more
Apartments planned for former Dojunkai housing block in Shinagawa
A densely packed neighbourhood built after the 1923 Great Kanto earthquake is about to be demolished and replaced with a 40 meter tall, 13-storey apartment building. Construction is scheduled to start in 2017 with completion by early 2019.
The former Dojunkai Ebara Jutaku was a housing subdivision that was developed as part of Tokyo’s recovery following the devastating 1923 earthquake. It contained a number of wood-framed 2-storey homes fronting onto narrow pathways. The neighbourhood was originally laid out in a circular pattern, similar to the area in front of Denenchofu Station, with 356 houses, a playground, clinic and shops. Most of the area was destroyed during WWII air raids and re-arranged post-war, with only the current small block surviving to this day.Read more
116-year old building in Kobe to be razed by developer
One of Kobe’s earliest western-style buildings has been sold to a developer and will be demolished to make way for a high-rise apartment building. The property, which was sold along with an adjoining block of land, had a price tag of several billion Yen.