Average price of an apartment in Tokyo reaches new record in February
According to Tokyo Kantei, the average asking price for a 70 sqm apartment in Tokyo’s 23 wards was 69,770,000 Yen in February, up 0.5% from the previous month and up 4.1% from last year. This price exceeded a previous record high set last October.
Construction starts on new Yaesu building
On March 13, Daibiru began construction of a new commercial building in Yaesu. This forms part of the real estate company’s Design100 Project Phase-II which is aimed at maintaining and strengthening the competitiveness of existing assets. In this case, the previous Yaesu Dai Building that stood on this site was demolished. It had been designed by famed architect Togo Murano and completed in 1967.Read more
Poltrona Frau-branded residences coming to Tokyo
Real estate developer List Development has teamed up with Italian furniture brand Poltrona Frau and Kurosaki Satoshi of APOLLO Architects & Associates to build ultra-luxury branded houses in Tokyo.Read more
Nationwide land values increase for 2nd year in a row
The nationwide Assessed Land Values (koji-chika), as issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) saw a year-on-year increase in 2023. This is the second year in a row to see an increase. The growth is apparent not only in urban centers, but is also spreading to regional areas as the country emerges from the pandemic.Read more
Tokyo apartment rents hit record high in February
In February, the average rent of a condominium-type apartment in Tokyo’s 23 wards increased for the 5th month in a row and has reached the highest since Tokyo Kantei began keeping records. Read more
Three hotels sold by Hokkaido hotelier
Mail-order company Belluna has emerged as the buyer of two hotels in Hokkaido from Karakami Hotels & Resorts for an undisclosed price. Karakami will stay on as the operator of the hotels.
Tokyo's annual office supply forecast for 2023 - 2026
With the completion of several large-scale office buildings later this year, the total supply of new office space to hit the market in 2023 is going to be more than double what it was in 2022.Read more