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*Update: The property was withdrawn from the auction.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

Mizuho's Real Estate Market Report

November 1, 2013Real Estate News,Market Information,All,Osaka,Tokyo

Mizuho Trust & Banking Co. released their Real Estate Market Report for October 2013. According to the data, second-hand apartment sales are making up a growing proportion of total apartment sales in both greater Tokyo and the Kinki region.

In Tokyo's 23 wards, around 10,000 second-hand apartments have been sold annually since 2010. The highest proportion of sales and the highest transaction volume is in Tokyo's central six wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya and Bunkyo).Read more

by Zoe Ward

September rental data - Tokyo Kantei

October 31, 2013average rent japan,average rent tokyo,rent apartment tokyo,rental market japanReal Estate News,Rental Market,All,Osaka,Nagoya,Tokyo

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,545 Yen/sqm in September, down 0.2% from the previous month but up 2.7% from last year. The average apartment size was 59.31 sqm (638 sqft) and the average apartment age was 18.8 years.

In Tokyo's 23-ku, the average monthly rent was 3,095 Yen/sqm, down 1 Yen from August but up 3.0% from last year. The average apartment size was 56.20 sqm and the average age was 17.6 years.Read more

by Zoe Ward