Asia's wealthy actively seeking luxury real estate in Tokyo

According to the Nikkei Shimbun, Asia's wealthy have taken a bullish approach to Japan's property market and are actively purchasing luxury condominiums in Tokyo.

Citing Abenomics, a weakening Yen and over-heated foreign real estate markets, foreign buyers are clamouring to buy what they consider relatively inexpensive high-end apartments for investment or personal use.Read more


Office vacancy rates in February - Miki Shoji

According to Miki Shoji's Tokyo Office Report, the average office vacancy rate in Tokyo's central five wards (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) in February was 8.57% - up 0.01 points from the previous month but 0.58 points lower than February 2012.

Three new office buildings were completed in February, but due to their relatively high occupancy rates the new supply had only a minor effect on the total vacancy rate.Read more


Inspections of pre-1981 buildings far from complete

As part of an effort to assess the earthquake-resistance of older buildings in Tokyo, the City announced on March 4 that only 6.8% of rental-only residential buildings and 17.1% of condominiums built prior to 1981 to the old earthquake codes (called kyu-taishin) have been inspected.Read more


Local residents delay construction in Asakusa

Local residents and parent-teacher-association members in Asakusa, opposed to plans for a new 13-storey condominium, have delayed the construction after protesting outside the building site. As trucks carrying construction equipment neared the site on the morning of March 1, they were met by 30 protestors blocking the entrance. The police soon arrived to assess the situation.Read more


Moe Oshikiri designs second apartment building in Meguro

Japanese magazine model and hosiery designer, Moe Oshikiri, has lent her design skills to a new condominium in Meguro-ku. The complex was developed by Veritas Investment and completed on February 23rd.Read more


Landlord ordered to demolish apartment building

A 69-year old landlord in Okazaki City, Aichi Prefecture, has been ordered to demolish his apartment building after it was found to be have been built to insufficient earthquake-resistance standards.Read more


Buildings in Minato-ku to be designated as tsunami-evacuation points

Selected buildings in Tokyo's Minato ward will be soon be designated as tsunami-evacuation points. Negotiations are underway between the local city council and 16 companies who own buildings of 10-storeys or higher. Approximately 36.5 million Yen has been set aside in the City's budget.

Several commercial and residential buildings in Arakawa-ku and Koto-ku have already received designations. While Arakawa-ku provided some assistance with the purchase of emergency supplies and rations, Minato-ku will provide all necessary supplies to the co-operating buildings. They are also considering providing assistance with any upgrades to building security so that they may be accessible to evacuees in an emergency situation.Read more