Secondhand apartment prices in May - Tokyo Kantei

June 23, 2013Real Estate News,Market Information,Osaka,Nagoya,Tokyo

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku in May increased by 0.6% from last month to 39,600,000 Yen (405,000 USD). It is only 0.5% lower than the average price in May 2012.

Prices across Greater Tokyo, however, are down 4.2% from last year to 27,590,000 Yen (282,000 USD). Read more

by Zoe Ward

Kengo Kuma to design new Shibuya Station area

June 22, 2013Kengo Kuma,Shibuya Station RedevelopmentNew Construction,Office/Retail News & Information,Real Estate News,Redevelopment & Reconstruction,Tokyo

On June 17, Tokyu Corporation and JR announced that internationally renowned architectural firm Kengo Kuma and Associates will be designing part of the new Shibuya Station area redevelopment.Read more

by Zoe Ward

Kobe City to urge developer to protect Jonas Residence

June 21, 2013Historic properties in Japan,Kobe,Jonas ResidenceDemolition,Historic Properties,Real Estate News

The local assembly of the Kobe City Council have accepted a petition submitted by local residents fighting to save the former Jonas Residence in Kobe from demolition.

The property was recently purchased by a developer who has plans to demolish it and replace it with an apartment building. The developer has already postponed demolition until the end of June, but the committee will put pressure on the council to urge the developer to preserve the building or at least postpone demolition to a later date. Read more

by Zoe Ward

MLIT Land White Paper 2013

June 20, 2013Japan land values,MLITLand,Real Estate News,Market Information,All,Osaka,Nagoya,Tokyo

On June 11, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the data from their 2013 White Paper on Land.

According to the report, land prices continue to fall across Japan although the rate of decline is shrinking. A greater number of survey locations saw an increase or stabilisation of land prices.Read more

by Zoe Ward

Average apartment rent in May

June 19, 2013average rent japan,average rent tokyoReal Estate News,Rental Market,Market Information,All,Osaka,Nagoya,Tokyo

According to Tokyo Kantei, the average monthly rent of an apartment in greater Tokyo in May increased by 0.1% from last month to 2,530 Yen per square meter. In Tokyo City, the average monthly rent in May was 2,979 Yen/sqm, up just 1 Yen from last month, but 2.2% higher than it was in May 2012. The average rent in Tokyo's 23 wards was 3,086 Yen/sqm, up 0.1% from last month and 2.2% from last year.Read more

by Zoe Ward

New apartment prices in Tokyo up 4% in May

June 18, 2013Real Estate News,Market Information,All,Tokyo

According to the Real Estate Economic Institute, the market for new condominiums in Tokyo is showing signs of improvement as sales numbers and prices increase in May.

A total of 4,967 new apartments were released for sale in May, up 49.2% from May 2012 and up 21.4% from the previous month. The contract rate (the number of new apartments sold as a percentage of the total number for sale) was 78.1%, which is above the 70% indicator of a good market. The contract rate for apartments in high-rise buildings above 20 stories was 84.6%.Read more

by Zoe Ward

Government may introduce long-stay visas for wealthy foreigners

June 17, 2013Living in Tokyo,All

The Japanese Government is considering introducing a visa to allow wealthy foreigners to reside in Japan for a number of years.

The government wants to follow in the footsteps of other countries such as Thailand and Australia which offer long-stay visas. Australia recently introduced a significant investor visa which provides a four year visa to those who invest AUD 5 million in complying investments, such as state government bonds.Read more

by Zoe Ward