Fault discovered in Kawasaki apartment building
In what looks to be a disturbing trend, another apartment building under construction has been found to have a serious defect. It was announced on March 31 that a high-rise condominium in Kawasaki City would be partially demolished and rebuilt after cracks were found on concrete pillars on the fourth floor.
Construction had reached the 7th floor when it was discovered that the extra load of the floors was putting too much strain on the 4th floor structural columns causing them to crack and split. Read more
Karuizawa's vacation home market on the rebound
The upscale summer resort area of Karuizawa in Nagano Prefecture is seeing its property market rebound as a growing number of older residents from greater Tokyo are move in. In 2015 the extension of the bullet train line will connect Karuizawa with the Hokuriku region, making the area an even more convenient destination.
While the rest of the prefecture is still dealing with sluggish land values, the increase in demand for vacation homes in Karuizawa has started to push land prices upwards.
The town approved 338 holiday homes in 2013, up 9% from the year before. Read more
[Foreclosed] 1898 Ijinkan in Kitanocho, Kobe
*Update: The property was withdrawn from the auction. This can occur when the creditor/s are either paid the outstanding debt or reach an agreement with the borrower.
The former Moore residence in Kobe's historic Kitanocho district will go up for public auction this month with bidding starting from 45.6 million Yen (442,000 USD).
The 2-storey western-style residence was built in 1898, with an extension to the rear added in 1980. It fronts onto Kitano Street, which is a popular spot for tourists.
Both the exterior and fence that face the street have been identified by Kobe City's Board of Education as traditional structures and any exterior alterations require permission (internal modifications, however, are allowed). Read more
Sekisui House to acquire Akasaka building for 74 billion Yen
According to Reuters, Sekisui House plans to acquire the Kokusai Akasaka Building for 74 billion Yen (724 million USD). The office building is located alongside Sotobori Dori Avenue and is meters from Tameikesanno Station. It is also just across the street from Sanno Park Tower.Read more
Accordia Golf to sell courses to Singaporean fund for 100b Yen
Accordia Golf announced plans to sell the majority of their golf courses in Japan to a Singaporean-based fund for approximately 100 billion Yen (980 million USD).
After the sale, Accordia will continue to manage the courses for a fee. Read more
Nippon Accommodations Fund acquires Atagoyama Tower
Nippon Accommodations Fund announced on February 19 that they will be acquiring a 31-storey apartment building in Nishi-Shinbashi for 8.65 billion Yen (85 million USD). Although the seller was not disclosed, the building had previously been acquired by SEB Asset Management's Asian Property Fund in 2008.Read more