Central Tokyo apartment sale prices drop as average building age increases
According to REINS, 2,543 second-hand apartments were sold across greater Tokyo in December, down 1.4% from the previous month but up 1.8% from 2014. The average apartment sale price was 28,640,000 Yen, down 1.8% from the previous month but up 0.6% from 2014. The average price per square meter was 454,400 Yen, down 1.2% from the previous month but up 1.3% from 2014. The average building age was 21.29 years (1.44 years older than the average in December 2014).
In the Tokyo metropolitan area 1,287 second-hand apartments were sold, down 14.2% from the previous month but up 3.0% from 2014. The average sale price was 35,770,000 Yen, down 1.0% from the previous month but up 2.0% from 2014. The average price per square meter was 610,100 Yen, down 1.5% from the previous month but up 2.8% from 2014. The average building age was 20.00 years (1.07 years old than the average in December 2014).
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 158 apartments were sold, down 15.1% from the previous month but up 3.9% from 2014. The average sale price was 53,550,000 Yen, down 0.4% from the previous month and down 6.6% from 2014. The average price per square meter was 968,300 Yen, down 3.7% from the previous month and down 3.0% from 2014. Read more
Heir donates historic villa to Chigasaki City
The owner of a 116-year old former hospital ward in Chigasaki, Kanagawa, has donated the property to the city in accordance with his late father's wishes.
‘Nanko-in’ was founded by Doctor Koan Takata (1861-1945) in 1899 as a tuberculosis sanatorium. The 18,000 sqm beachfront site in the Shonan area was chosen because of its clean air and environment. A 2-storey, wooden building with a total floor area of 230 sqm (2,475 sq.ft) was built in 1899 as the first hospital ward.
The hospital started with just ten rooms and three patients. One of those was the widow of Kaishu Katsu, a samurai and politician. Author Doppo Kunikida was hospitalised here before his death in 1908. His illness was reported in the Yomiuri Newspaper at the time and elevated the reputation of both the hospital and the Chigasaki vacation villa area.Read more
50 landlords in Kyoto investigated for failing to declare taxes
The Osaka Regional Taxation Bureau has identified approximately 50 landlords of rental properties in Kyoto that failed to report over 300 million Yen (2.55 million USD) in rental income over a three year period.
From 2014, approximately 50 landlords of rental apartment buildings and the smaller ‘apaato’-type flats located near the Doshisha University campus were the subject of an investigation by the Kamigyo Tax Office. The investigation found that the majority of the landlords had failed to correctly file and declare taxes.Read more
Tadao Ando-designed private guesthouse converted into luxe, boutique hotel
A former privately-owned guesthouse designed by Pritzker Prize-winning architect Tadao Ando has been converted into a luxury, boutique hotel.
The Setouchi Retreat Aonagi opened its doors on December 20, 2015. Described as a ‘small, luxury hotel’, the contemporary concrete and glass building contains just seven guest suites ranging from 100 ~ 150 sqm (1,076 ~ 1,614 sq.ft) in size. The design, which is true to Ando’s style, is bold yet minimal, and makes the most of the views over the Seto Inland Sea.
The 6-storey building was built in 1998 as the Elleair Matsuyama Guesthouse and Museum of Art. The museum was built to display artwork held by the Daio Paper company, including pieces by Marc Chagall and Marie Laurencin. While the museum was previously open to the public, the adjoining guest house was for private guests only.Read more
Sports stadium and mall likely to replace old Tsukiji fish market
According to insiders at a major Japanese real estate company, a sports stadium and shopping mall are being considered as a replacement for the former Tsukiji fish market site in downtown Tokyo.
The famous 80-year old fish market is scheduled to move to its new location on Shin-Toyosu Island in Tokyo Bay in early November 2016, leaving a 23 hectare site prime for redevelopment. The outer market, which has retail and restaurants catering to the general public, will remain in its current location, while the wholesale market will move to a much larger site in Shin-Toyosu.Read more
Residential yields in Minato-ku - January 2016
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in Tokyo was 4.6% in January, down 0.1 points from the previous month and down 0.7 points from last year. The average gross yield across Tokyo was 6.2%, showing no change from the previous month but down 0.6 points from last year.
The average asking price of a second-hand apartment in Minato-ku was 895,543 Yen/sqm as of January 1, up 0.6% from the previous month and up 6.2% from last year. The average asking price for land was 1,358,485 Yen/sqm, up 3.1% from the previous month and up 7.6% from last year.Read more