Foreign buyers pushing up land prices in Japan?

May 15, 2013Foreign buyers of real estate in JapanReal Estate News

Foreign buyers are reportedly joining the apartment buying frenzy in Japan. The recent weakening of the Yen by up to 20% means an offshore buyer can now save as much as 20 million Yen when buying a 100 million Yen apartment (assuming they were initially planning to buy last year but put it off until now).Read more

by Zoe Ward

Apartment prices skyrocket in Sendai

May 14, 2013Sendai,Tohoku earthquakeReal Estate News,Market Information

According to the latest data released by Tokyo Kantei, the average list price of a second-hand apartment in Sendai City in the first quarter of 2013 is 35.5% higher than in early 2011.

Prior to the Tohoku disaster, average apartment prices had dropped to 565,000 Yen per Tsubo* (171,200 Yen/sqm). Following the disaster, prices have since risen to 766,000 Yen per Tsubo (232,100 Yen/sqm).Read more

by Zoe Ward

Office vacancy rates in April - Miki Shoji

May 13, 2013Japan Office Vacancy RatesReal Estate News,Market Information,Commercial Real Estate

According to Miki Shoji's Office Report for April, 2013, vacancy rates improved but rents continued to fall. The office vacancy rate in Tokyo's central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) dropped by 0.02 points to 8.54%. This is the second month of decline. The vacancy rate in brand new buildings was 17.31%, down 5.93 points from last month. Read more

by Zoe Ward

The last Dojunkai to be demolished in June

May 10, 2013dojunkai,Uenoshita ApartmentsDemolition,Historic Properties,New Construction,Real Estate News

While the 84-year old Uenoshita Apartments in Tokyo's Taito-ku may have miraculously survived the Great Tokyo Air Raid in 1945, it is not immune from re-development as the wrecking ball is set to swing on the apartment building next month.Read more

by Zoe Ward

Saitama's "Johnson Town" resembles US suburb

May 8, 2013Johnson Town,Saitama,Iruma City,Johnson Air BaseOther News

 While Hokkaido has its own version of a Swedish village, Saitama has 'Johnson Town' a small neighbourhood of American-style homes built to house the US forces during the Korean War in the early 1950s. 

Although much of Johnson Town's atmosphere can be attributed to it's re-development in the 1950s, the history of this enclave dates back even further.Read more

by Zoe Ward

Grand Front Osaka Owner's Tower sold out

May 6, 2013Grand Front OsakaNew Construction,Real Estate News,Osaka

All 525 apartments in the just-competed Grand Front Osaka Owner's Tower have now sold, heralding what many believe to be the turning point for the residential market.

The most expensive apartment was a 415 million Yen 300sqm 3-bedroom penthouse. Read more

by Zoe Ward

End of mortgage moratorium means foreclosures set to rise

May 3, 2013Foreclosures in JapanForeclosed Properties,Real Estate News

At the end of March 2013, the home loan moratorium expired, creating potential for a mortgage crisis in Japan. Households struggling to make repayments are beginning to panic as forecasts suggest interest rates are set to rise.

While banks are not likely to immediately foreclose on all late-payers, there is a chance we will see an increase in bank foreclosures on well-located properties in the later half of 2013 if land prices increase.Read more

by Zoe Ward