Uenoshita Dojunkai Apartments to be demolished

October 12, 2012dojunkai,Uenoshita ApartmentsDemolition,Historic Properties,Real Estate News

The last remaining 'dojunkai' apartment building, Uenoshita Apartments, will be demolished next year to make way for a new 14 storey condominium developed by Mitsubishi Jisho Residence.

The head of Taito-ku gave approval on October 9 for the formation of the reconstruction committee.Read more

by Zoe Ward

Hokkaido facing difficult task of regulating transactions on forestry

October 10, 2012Land,Real Estate News,Hokkaido,All

Regulations requiring advance notification of the sale of land containing a water source came into effect on October 1st, but Hokkaido is already facing the difficult task of identifying and contacting land owners.

In Hokkaido, 53 areas were designated for water resource preservation. Correspondence has been sent to the 4,000 affected land owners, but only 60% could be contacted. The whereabouts of the remaining land owners remains unknown.Read more

by Zoe Ward

Interest in uninhabited islands skyrockets following Senkaku dispute

October 8, 2012Iriomote Island,Tropical Islands for SaleReal Estate News,All

There are growing calls for regulation of the sale of Japan's islands as interest from buyers is booming following the latest saga in the Senkaku / Diayu Island dispute.Read more

by Zoe Ward

An apartment designed with Roomba in mind

October 5, 2012LeaseholdBuilding Profiles,New Construction,All

The modelroom for Mitsubishi Jisho Residence's latest condominium 'The Parkhouse Shibuya Mitake' has been specially designed in collaboration with the Japanese sales representatives for vacuuming robot Roomba.Read more

by Zoe Ward

Golf courses converted to solar farms across Japan

October 3, 2012Mori Trust,Japan Golf Courses,Mega-Solar in JapanLand,Other News,Other Properties,Real Estate News,All

The Japanese government introduced a system whereby electric utility operators are obligated to purchase electricity produced by solar farms, and other renewable sources, at fixed prices. The system started from July 1, 2012. In order to benefit from the program, suppliers must obtain approval by the Ministry of Economy, Trade and Industry (METI).

Under the feed-in tariff (FIT), utilities will enter into 20-year terms to from solar power suppliers. The purchase price of solar power is expected to be set at 42 Yen per kilowatt-hour.Read more

by Zoe Ward

Tepco sells head office bldg for 25 billion Yen

October 1, 2012TepcoSold Properties,All,Commercial Real Estate

On September 27, Tepco announced that they had sold the Toshin Building in Shinbashi, Minato-ku, for 25 billion Yen (320 million USD).

The sale contract was signed on the 27th with a closing date scheduled for March 2013. The buyer has not been disclosed.Read more

by Zoe Ward

Average apartment prices in Tokyo down 13.5% in August

September 28, 2012Real Estate News,Market Information,All

According to research by AtHome, the average realized sale price of a secondhand apartment in greater Tokyo was 19,750,000 Yen in August, down 6.4% from the year before and 5.9% from last month. This is the first time in 2 years and 8 months that the price has fallen below the 20 million Yen mark.

The drop was particularly noticeable in Tokyo's 23 wards where sale prices fell 13.5% from one year prior, and 12.1% from the previous month. The average price per square meter in Tokyo's 23 wards fell 8% from last year to 446,100 Yen/smq, while in Chiba, it dropped 21.1% to 195,400 Yen/sqm. The average age of an apartment sold in greater Tokyo was 23.5 years.Read more

by Zoe Ward