Accordia Golf to sell courses to Singaporean fund for 100b Yen

March 28, 2014Japan Golf CoursesReal Estate News,All

Accordia Golf Japan

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

by Zoe Ward

Nippon Accommodations Fund acquires Atagoyama Tower

March 27, 2014Atagoyama TowerReal Estate News,All,Tokyo

Atagoyama Tower 1

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

by Zoe Ward

Why Japanese investors are targeting apartments on high floors

March 26, 2014Inheritance Tax in JapanReal Estate News,All,Taxes

Japan's inheritance tax rate is set to increase from January 1, 2015. Under the current tax rate, approximately 4% of households are subject to inheritance taxes, but the decrease in the standard deduction from 2015 is going to affect a lot more households.

Wise investors are seeking alternative ways to store their fortune, with high-rise apartments in central Tokyo becoming a popular option.Read more

by Zoe Ward

Hiroshima to have tallest apartment building in region

March 25, 2014HiroshimaNew Construction,Real Estate News,All

City Tower Hiroshima 1

Sumitomo Realty & Development announced the launch of a condominium in Hiroshima that will be the region's tallest apartment building when complete. City Tower Hiroshima will be 192 meters tall and contain 514 two, three and four-bedroom apartments.

Residential apartments will be on floors 13 to 52, with a lobby on level 12. The majority will be 3-bedroom apartments with an internal area of 75 sqm (807 sqft). Read more

by Zoe Ward

Secondhand apartment prices in February - Tokyo Kantei

March 25, 2014Real Estate News,Market Information,All

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo's 23 wards was 41,420,000 Yen in February, up 0.8% from the previous month and up 4.8% from last year. The average apartment age was 20.5 years.

In central Tokyo's six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment price was 56,830,000 Yen, up 2.1% from the previous month and up 10.4% from last year. The average apartment age was 20.6 years.Read more

by Zoe Ward

The Parkhouse Grand Minamiaoyama Takagicho to be demolished and rebuilt

March 24, 2014Minamiaoyama,Minato-kuDemolition,New Construction,Real Estate News,Redevelopment & Reconstruction,All,Tokyo

The Parkhouse Grand Minami Aoyama

Mitsubishi Jisho Residence announced that they will be demolishing and rebuilding The Parkhouse Grand Minamiaoyama Takagicho* apartment building after serious construction faults were discovered prior to completion. The construction company, Kajima Corporation, is expected to bear most of the reconstruction costs.

Apartments in the 7-storey condominium in Minato-ku were initially priced from 85 ~ 350 million Yen with an average price of 1,400,000 Yen per square meter. 83 of the 86 apartments were already under contract by December when online message boards began to report rumours of some structural issues with the building. Read more

by Zoe Ward

New apartment prices in Tokyo up 26%

March 21, 2014Real Estate News,Market Information,All,Tokyo

According to the Real Estate Economic Institute, 2,651 new apartments were released for sale across greater Tokyo in February, down 24.1% from last year but up 45.2% from the previous month. Record snowfall across Tokyo in February caused some developers to postpone sales until March, which caused the drop in numbers.

Demand still remains strong with a contract rate of 80.6%, up 4.2 points from last year and up 2.0 points from January. Read more

by Zoe Ward