Land prices rise in majority of areas - MLIT LOOK Report

May 30, 2013MLIT Chika LOOK ReportLand,Real Estate News,Market Information,Osaka,Nagoya,Tokyo

Commercial land around the Abenobashi Terminal Building (left) and Tokyo Sky Tree (right) were the only two locations to see prices rise between 3 and 6% over the quarter.

According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) the majority of survey locations for their quarterly Chika LOOK Report have recorded an increase in land prices.

Land price movements were measured in 150 locations throughout Japan, but primarily in the three major cities of Tokyo, Nagoya and Osaka. 80 of those locations, or 53% of the total, recorded an increase in land prices, while 51 saw no change in prices. The remaining 19 locations saw prices fall somewhere between 0 and 3%.Read more

by Zoe Ward

New apartment prices up 7.1% in April

May 29, 2013Tokyo apartment prices,New Apartments in TokyoNew Construction,Real Estate News,Market Information

On May 20, the Real Estate Economic Institute's issued their report on new apartment sales in greater Tokyo for the month of April.

4,093 new apartments were released for sale during the month, down 2.8% from April 2012 and down 20.4% from last month. Of those, 1,891 apartments were in Tokyo (46.2%), 995 were in Kanagawa Prefecture (24.3%), 764 were in Saitama Prefecture (18.7%) and 443 were in Chiba Prefecture (10.8%).Read more

by Zoe Ward

April rental data - Tokyo Kantei

May 27, 2013average rent japan,average rent tokyoReal Estate News,Rental Market,Market Information,Osaka

Tokyo Kantei announced the latest data on rental prices for condominium apartments across Japan. In greater Tokyo, the average monthly rent was 2527 Yen/sqm, down 0.6% from last month, but up 0.9% from April of 2012.

In Tokyo, the average rent did not change from the previous month but was up 1.6% from last year.

In the Kinki Region (Osaka, Hyogo Prefecture) rents are up by 5.8% from April 2012. In Osaka, the average rent of 1898 Yen/sqm in April saw little change from the month before but is 6.3% higher than last year. Rents in Kobe City are up by a staggering 9.5% from last year.Read more

by Zoe Ward

Secondhand apartment prices in April - Tokyo Kantei

May 25, 2013japan apartment price,Tokyo apartment pricesReal Estate News,Market Information,Osaka,Nagoya,Tokyo

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in greater Tokyo in April was 27,700,000 Yen (272,000 USD), down 0.4% from last month and down 4.3% from April 2012. 

In Tokyo, the average asking price was 36,290,000 Yen (357,000 USD), up 0.1% from last month but down 2.2% from last year. Osaka City is one of the few places that has seen asking prices increase from 12 months ago, with the average price up 1.2% from April 2012. Prices in Osaka's central 6 wards have increased by 6.8% over the year.Read more

by Zoe Ward

Sales of apartments in The Parkhouse Hiroo Hanezawa begin this month

May 24, 2013hiroo,Hanezawa Garden,New Apartments in Tokyo,Mitsubishi JishoHistoric Properties,New Construction,Real Estate News

Mitsubishi Jisho Residence will begin sales of apartments in The Parkhouse Hiroo Hanezawa.

Readers may remember that these apartments are being built on the site of the former Hanezawa Garden - home of Yoshikoto Nakamura (1867 - 1927). Mr. Nakamura was a former Mayor of Tokyo, Railroad Minister and second Chairman of the South Manchurian Railway Company. The original house (c1915) had been used as a wedding facility / reception hall since the 1950s.

Mitsubishi acquired the site in 2011 and demolished the house in early 2012, much to the dismay of neighbours.Read more

by Zoe Ward

Japan's high-rise apartment market, March 2013

May 22, 2013New Construction,Real Estate News,Market Information,Shizuoka,Osaka

Grand Front Osaka (2013)

According to the latest data from the Real Estate Economic Institute's report on the high-rise apartment market, there are over 96,500 apartments in buildings over 20 stories tall either under construction or in the planning stages across Japan.

273 high-rise residential buildings are expected to be completed from 2013 onwards, with a total of 96,512 individual apartments. This is an increase of 38 buildings and 14,374 apartments from March 2012.Read more

by Zoe Ward

Second-hand apartment prices up 1.4% in April

May 21, 2013Tokyo apartment pricesReal Estate News,Market Information

According to REINS, the average sale price of a second-hand apartment in greater Tokyo in April was 25,560,000 Yen, up 1.4% from April 2012, but down 1.5% from last month. The average price per square meter was 393,600 Yen, up 2.5% from last year but down 0.9% from last month. 

Chiba saw the biggest change in prices over 12 months, with the average price up 7.3% to 17,620,000 Yen. The average price per square meter increased by 8.1% to 243,900 Yen.

Apartment prices in Tokyo's Chiyoda, Chuo and Minato-ku were down 3.4% from April 2012 to 43,840,000 Yen, while the price per sqm was down 0.5% to 767,000 Yen.Read more

by Zoe Ward