The Parkhouse Harumi Towers sees a surge in interest following Olympics announcement

The sales office at The Parkhouse Harumi Towers was abuzz with activity on Sunday after it was announced that Tokyo was chosen to host the 2020 Summer Olympics. The twin high-rise condominiums are located on the same island in Tokyo Bay that will be the site of the Athletes Village.

On a normal weekend, the sales office receives around 30 visitors, and make 4 or 5 sales. On Sunday, however, as many as 60 people visited the showroom and 10 purchase agreements were signed.Read more


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

According to real estate listing site Homes, the average yield on an apartment in Minato-ku in September was 6.0%, up 0.3 points from last month. The average yield across Tokyo was 7.9%, down 0.2 points from August.

The vacancy rate was 9.9% in Minato-ku and 11.0% across Tokyo.Read more


All 1497 apartments now sold out in Proud Funabashi

All 1,497 apartments in Nomura's 'Proud Funabashi' development in Chiba have sold out. Nomura received a total of 2,919 purchase applications, and over 24,000 people visited their sales showroom since its opening in June 2012.Read more


4-point checklist when buying an older apartment

If you are thinking of buying an older, secondhand apartment in Japan, these are some of the important factors that you need to consider:

[1] What are the building's common areas like?

When inspecting an apartment, it is important that you thoroughly check the building's common areas including the entrance, bicycle and car parking, hallways, garbage disposal room and rooftop (if possible). If a building is well managed and maintained, it will be evident in the common areas. If, however, it is unclean or looking run down, it could be a sign that the building is not being property cared for. Read more


Second-hand homes to receive long-term superior housing certification

In 2014, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) will introduce a system to provide long-term superior housing certification to second-hand homes that have been renovated to meet current earthquake-resistant and energy conservation standards.Read more


Apartment voting ratios under review

The government may soon introduce new measures to make it easier for old, ageing apartment buildings to be redeveloped. Currently, 100% of apartment owners must agree before their building can be demolished and the land sold, but this ratio may be reduced to 80%.

It is hoped that this will encourage the development of newer and more earthquake-resistant buildings which will improve the safety of neighbourhoods. It may also help to revitalise the real estate market.Read more


Daiwa House aquires development site in Ariake

Daiwa House have acquired a 3.6 hectare development site in Ariake, Koto-ku for 42.17 billion Yen (approximately 424 million USD). The land was sold by the Urban Renaissance Agency (UR).

The site is part of the Ariake North District on a man-made island in Tokyo Bay. It has water frontage on two sides and is walking distance to Odaiba.Read more