Second-hand apartment prices in central Tokyo up 12.9% from last year

November 13, 2013Tokyo Land Prices,Tokyo apartment prices,Tokyo house pricesReal Estate News,Market Information,All,Tokyo

According to REINS, the average price per square meter of a secondhand apartment sold in Tokyo City in October was 537,200 Yen, up 10.4% from last year and up 1.7% from the previous month. The average sale price was 32,420,000 Yen, up 6.3% from last year and up 1.4% from last month.

A total of 3,066 secondhand apartments were sold across greater Tokyo, up 11.7% from last year. 1,447 apartments were sold in Tokyo City, up 13.1% from last year.Read more

by Zoe Ward

Residential yields and vacancy rates in Minato-ku - November 2013

November 12, 2013average rent tokyo,Rental yield in TokyoReal Estate News,Rental Market,Market Information,All,Tokyo

According to real estate listing site Homes, the average yield on an apartment in Minato-ku in November was 5.8%, unchanged from the previous month. The average yield across Tokyo was 7.6%, down 0.1 points from October.Read more

by Zoe Ward

Office vacancy rates in October

November 11, 2013Japan Office Rent,Tokyo Office Market,Tokyo Office Rent,Japan Office Vacancy RatesOffice/Retail News & Information,Real Estate News,All,Osaka,Nagoya,Tokyo

According to Miki Shoji's Office Report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.56% in October, down 0.34 points from the previous month and down 1.18 points from last year.

This is the lowest level seen in over 4 years. Read more

by Zoe Ward

Minato and Shibuya apartment sales (first half 2013)

November 8, 2013Minato-ku,Tokyo apartment prices,Shibuya-kuReal Estate News,Market Information,All,Tokyo

According the MLIT, the average transaction price of an apartment (including both new and old) in the first half of 2013 was 55,143,800 Yen (919,600 Yen/sqm) in Minato-ku and 35,182,100 Yen (814,200 Yen/sqm) in Shibuya-ku.Read more

by Zoe Ward

[Foreclosed] Apartment in Park Mansion Roppongi

November 6, 2013Japan Foreclosed Properties,Park Mansion Roppongi,Roppongi Real EstateForeclosed Properties,All,Tokyo

Park Mansion Roppongi 2

*Update: The property was withdrawn from the auction.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. It was later listed for sale for 248,000,000 Yen.

A 3-bedroom apartment in the luxury Park Mansion Roppongi building is up for public auction this month.

Bidding on the 114 sqm (1227 sqft) apartment starts from 81,600,000 Yen (715,800 Yen/sqm). Apartments in this building are normally priced around 1.9 ~ 2.5 million Yen per square meter, with those overlooking Hinokicho Park going for as much as 3 million Yen/sqm. Read more

by Zoe Ward

40% of Tokyo's existing apartments within 8km of Harumi

November 5, 2013HarumiReal Estate News,Market Information,All

In October, Tokyo Kantei published a report focusing on the existing apartment stock that lies within an 8km radius of the man-made island of Harumi in Tokyo Bay.

According to the data, there were 10,195 existing apartment buildings containing 540,057 apartments within 8km of Harumi. 40.5% of Tokyo's 23-ku apartment stock is located within this zone. Current estimates show another 10,000 apartments are expected to be supplied in the bayside area in the next few years. Read more

by Zoe Ward

Kamakura Museum of Modern Art at risk of demolition

November 4, 2013Kamakura,Historic properties in Japan,Hayama,Kanagawa PrefectureDemolition,Historic Properties,All

Kamakura Museum of Modern Art 1

The Museum of Modern Art, Kamakura & Hayama is facing possible demolition as the prefecture has decided not to renew the land lease with the landowner (the nearby Tsurugaoka Hachiman-gu shrine). The prefecture's difficult financial situation has meant that they cannot continue to operate the museum and it is scheduled to close at the end of March 2016.Read more

by Zoe Ward