Residential yields in Minato-ku - February 2015

Tokyo and Minato Yields

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in February was 5.2%, down 0.1 points from the previous month and down 0.2 points from last year. The average gross yield across Tokyo was 6.8%, showing no change from the previous month and down 0.6 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 884,371 Yen/sqm as of February 1, up 4.9% from the previous month and up 16.4% from the previous year. The average asking price for land was 1,254,242 Yen/sqm, down 0.6% from the previous month but up 17.0% from last year.Read more

Historic home in Kunitachi open to public before demolition

Takada Residence Kunitachi 2A historic home in Kunitachi City, Western Tokyo, will be open to the public for a viewing on February 8 and 9 before it is demolished.

The Takada Residence was built in 1929 ~ 1930 by physician and author Giichirou Takada. Mr. Takada moved his family from their former residence in the Akasaka Tameikesanno area in order for his eldest son to attend school in Kunitachi. This home would have been one of the original homes built when the suburb was developed in the 1920s.

The 2-storey wooden house sits on a 600 sqm block of land. It has a concrete basement (used as archives) and the house was equipped with steam heating.

Demolition is scheduled to begin at the end of March 2015.Read more

Two small towns offering free homes to attract new residents

Tsuwano Shimane
Tsuwano Town, Shimane Prefecture

In an effort to attract young families from outside the area, two small towns are offering free house and land packages.

Miyagi Prefecture

The town of Shichikashuku in Miyagi Prefecture will provide a 'rent-to-own' house to qualifying residents. After renting the home for 20 years, the tenants will receive the house and land for free.

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Tokyo apartment sales in January 2015

Tokyo apartment sales Jan 2015

The following is a selection of apartments that were sold in central Tokyo during the month of January 2015:Read more

Apartment in Daikanyama Hillside Terrace for Sale

Daikanyama Hillside Terrace 4

Price: No longer on the market

A 2-Bedroom apartment in Daikanyama Hillside Terrace was listed for sale this week. Hillside Terrace is one of those places that is yearned for by locals, but only very few are lucky enough to call it their home.

The apartments are in very high demand with buyers waiting years or even decades for the chance to buy an apartment, but it is such a tightly-held building that it is very rare to see anything offered for sale. In fact, this is only the second apartment we have seen on the market in over five years.

This current listing is on the 3rd floor, which is the top floor of the building. It has an internal floor area of 131.05 sqm (1,410 sqft). It is occupied by the seller, but can be inspected with advance appointment.Read more

53-yr old office conversion in Chiyoda-ku

The C Uchikanda 3

Real estate developer Hulic Co., Ltd. has converted a 53 year old office building in Chiyoda-ku into a trendy shared apartment, office and event space. The building has been named ‘the c’ to represent the keywords behind the project, which were central, conversion, communication, culture and create.

Floors 3 to 9 have been converted into shared residential space, with a shared office space located on the 2nd floor. The top floor of the building has been turned into a shared lounge, theatre room and dining space for both residents and office workers. An event space was created in the building’s basement which can be rented out for events and meetings. The rooftop has an open terrace with wi-fi access.Read more

Scandal-ridden site in Shinjuku up for public auction

Shinjuku Building 1
[Left] The foreclosed land. [Right] The former Shinjuku Building (now demolished) that stood on the site.
Located in a prime commercial zone near the south exit of Shinjuku Station is a notorious block of vacant land that has been at the centre of a well-known scandal.

Due to the messy history behind this land, most people had given up on the thought of ever seeing this site redeveloped. However, the land is being put up for public auction on February 17, 2015, by the Tokyo Tax Office with a minimum bid set at 2.19 billion Yen (18.5 million USD).

The Shinjuku Building Incident

The site was once home to the Shinjuku Building - a 12-storey multi-tenant building built in 1983 and demolished in early 2011.Read more