First apartment building to be redeveloped in Saitama
Residents of a 34-year old condominium apartment building in Saitama City have decided to rebuild after an earthquake-resistant diagnosis showed the building was at risk of collapse in a major earthquake.
This will be the very first case of a resident-led condominium redevelopment in Saitama Prefecture. To date, Saitama only has two cases of apartment redevelopments - both were carried out for urban development and road widening, rather than building age.
The 7-storey building in Omiya-ku was built in 1980. The average age of a resident is over 60, yet the building was lacking in barrier-free facilities. Equipment was ageing and the elevator needed replacing. In 2009, a building inspection found that the structure was not earthquake-proof and posed a danger of collapse in a major earthquake.
Secondhand apartment prices in November 2014 - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 43,300,000 Yen in November, up 1.7% from the previous month and up 6.6% from last year. The average building age was 22.3 years.
In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 61,280,000 Yen, up 1.8% from the previous month and up 12.0% from last year. The rate of increase has been expanding since August 2014. The average building age was 21.6 years.Read more
1960s Osaka office conversion wins renovation prize
The conversion of a 48-year old small office building into a private residence won best design (open category) in the 2014 Renovation of the Year awards announced on November 2.
The 4-storey office building had a floor plate of 66 sqm and was surrounding by buildings on three sides, limiting natural light. The property was purchased for a relatively low cost due to its age and the difficulty in attracting commercial tenants.Read more
Historic Japanese villa in NY looking for new home in Japan
The current owner of a historic traditional Japanese house in upstate New York wants to relocate the home to Japan and is seeking a new owner.
The ’Pine and Maple Palace’ was initially exhibited at the St. Louis World Fair in 1904. It was modelled in a style of architecture dating from the Momoyama period (late 1500s), but with some western features. After the fair, Emperor Meiji donated the villa to Dr. Jokichi Takamine, a successful chemist who had emigrated to the US. Takamine relocated the villa to his summer home in upstate New York. In 1909, Prince Kuni Kuniyoshi and Princess Kuni stayed in the villa during a visit to the US. The house was sold upon Takamine’s death in 1922. Read more
November rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,560 Yen/sqm in November, down 1.6% from the previous month but up 0.3% from last year. This is the first time in five months to see a month-on-month decline in rent. The average apartment size was 59.90 sqm and the average building age was 19.5 years.
The average monthly rent in Tokyo’s 23-ku was 3,199 Yen/sqm, down 1.1% from the previous month but up 2.8% from last year. The average apartment size was 56.76 sqm and the average building age was 17.7 years. Although rents across all areas within Tokyo have started to weaken, they are still hovering around the 3,200 Yen/sqm range.Read more
Tokyu Plaza Shibuya to be redeveloped
The Tokyu Plaza Shibuya building to the west of Shibuya Station will be demolished in 2015 and replaced with a larger mixed and retail development.
The 9-storey multi-tenant retail building, which was originally called the Shibuya Tokyu Building, opened in 1965. In celebration of its 50 year history, a number of stores will be holding special sales from January to March 2015, while some of the restaurants which have been in operation since the building opened will prepare special menu items. A temporary gallery with photos of the Shibuya area over the past five decades is also scheduled to open from the end of January.Read more