Japanese homeowner in US Navy housing suing Japanese Government

Yokohama Negishi Heights 1

Living in a gated estate with high security might be considered desirable to some, but to one Japanese family in Yokohama it has been a nightmare. 

A Japanese couple who own a house and land located within the US Navy's Negishi Heights Housing Complex in Yokohama are suing the Japanese government for 115 million Yen damages after suffering a lifetime of inconvenience and hardship caused by the various hassles that come with living in an armed forces compound. Oral proceedings are scheduled for February 28 in the Yokohama District Court. Read more


Minamiaoyama land sold for 13 billion Yen

Meiji Jisho, a company affiliated with Cerberus Capital Management, has sold a 1,916 sqm block of land in Minamiaoyama 3 Chome to Shimizu Corporation. The deal is estimated to be around 13 billion Yen (6,785,000 Yen/sqm). 

The land is currently a parking lot and fronts onto Aoyama Dori Avenue.

An adjoining 2,500 sqm site was sold by the Urban Renaissance Agency (UR) in March 2013 for 5.6 billion Yen (2,240,000 Yen/sqm). It was reported that the buyer was City Index Seven - related to the Murakami Fund. UR's landholding is more scattered with private roads and a smaller street frontage.

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Kitakyushu modernist buildings at risk of demolition

Yahata City Meeting Hall Yahata Library
Left: Yahata City Meeting Hall; Right: Yahata Library

Two buildings designed by modernist architect Togo Murano are at risk of demolition as the rising maintenance costs are proving too much for the city's finances. The Yahata City Meeting Hall (1958) and Yahata Library (1955) are located in Yahatahigashi-ku, Kitakyushu City, Fukuoka.Read more


Possible new subway line to connect Harumi and Ginza

Tokyo bayside new subway line

Chuo-ku will soon begin investigating the possibility of creating a new subway line to link Tokyo's bayside areas, including Harumi, to the Ginza district.

The manmade islands are currently going through a construction boom with a number of high-rise apartment towers under construction. The Athletes' Village for the 2020 Olympics is  expected to boost the population by 12,000 after the Olympics are finished and the apartments are made available to the public.Read more


Office vacancy rates in January - Miki Shoji

According to Miki Shoji's office report, the office vacancy rate in Tokyo's five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.18% in January, down 0.16 points from the previous month and down 1.38 points from January 2013. Vacancy rates have been decreasing for the past 7 months.

The vacancy rate in brand new buildings was 14.42%, down 0.08 points from the previous month and down 9.79 points from last year.Read more


Park Mansion Akasaka Hikawazaka Sold Out

Park Mansion Akasaka Hikawazaka 2

All 36 apartments in Mitsui Fudosan's Park Mansion Akasaka Hikawazaka have now sold out. 

The two and three-bedroom apartments were priced from 164 ~ 680 million Yen. With an average price of 2,190,000 Yen/sqm (2,000 USD/sqft), this is among the most expensive apartment buildings in Tokyo. Read more


New apartment prices in January

According to the Real Estate Economic Institute, a total of 1,826 new apartments were released for sale in greater Tokyo in January, down 77.9% from the previous month but up 6.1% from January 2013. 

The contract rate for the month was 78.6%, up 2.5 points from the previous month and up 9.4 points from last year.

The average apartment price was 46,370,000 Yen, down 1.8% from last year. The average price per square meter was 660,000 Yen, down 4.2% from last year.Read more