Secondhand apartment prices continue to fall in July

August 30, 2012Tokyo apartment pricesMarket Information,All

According to Tokyo Kantei, the average secondhand apartment price (based on a 70sqm apartment) in greater Tokyo in July fell 0.7% from the previous month to 28,250,000 Yen.

With the exception of Saitama City which saw prices rise 0.5% from the previous month to 21,180,000 Yen, all other areas in greater Tokyo saw a further decline in prices, with the rate of decline worsening. In Chiba City, the average price fell 1.8% from the previous month to 17,170,000 Yen. This is 6.3% lower than July of 2011.Read more

by Zoe Ward

Chunk of concrete falls off building in Ikebukuro

August 29, 2012Buyer Beware!,Real Estate News,All

A 20 centimeter piece of concrete fell from the top of a 10-storey apartment in Ikebukuro yesterday, smashing onto the pavement below. No one was injured.

The incident occurred at about 8am when a fragment from the rooftop of the building came loose. Another 4 meter long piece of concrete was left dangling, but was later removed by workers.

The apartment building is over 40 years old and the police headquarters said the deterioration of the building was to blame.Read more

by Zoe Ward

Tas Corp's rental market data for August

August 27, 2012rental market japan,rental market tokyo,Japan investment propertiesRental Market,Market Information,All

TAS Corp, the company behind the "Tas-Map" real estate valuation site, released their latest data on the rental market for both the greater Tokyo and Kansai area for August 2012.

The data includes a vacancy rate index, average time an apartment is advertised before a tenant is found, average rate of lease renewals, rate of mid-way cancellations and a rent index.

This month's report on the greater Tokyo area focused on the aging population in Saitama and the consequences this will have for landlords in the future.Read more

by Zoe Ward

Survey says Chinese investors keen on resort apartments in Japan

August 24, 2012Chinese property buyers in JapanReal Estate News,Market Information,All

Tokyo-based GlobeLink is a specialist marketing and consulting company that targets wealthy Chinese consumers. They recently conducted a survey of wealthy Chinese investors to find out where they want to invest and why.

A total of 100 consumers from the top wealth bracket in China were surveyed. The participants all reside in major cities in China, and are interested in investing in Japanese real estate.Read more

by Zoe Ward

Did you know: Atami City has a special tax on holiday homes

August 21, 2012Atami,Japan Property Taxes,Shizuoka PrefectureProperty Purchasing Guide,Vacation Homes,Shizuoka,All

The popular beachside resort area of Atami in Shizuoka levies a special tax on owners of holiday homes and resort apartments within the city. Called a "besso" tax (besso = holiday house), it is very similar to a municipal tax. This tax is only charged on properties in Atami City, and is not found anywhere else in Shizuoka Prefecture.Read more

by Zoe Ward

Taiwanese increasing investment in Japanese real estate

August 19, 2012Chinese property buyers in JapanReal Estate News,All

The Taiwanese media have been featuring stories about the rising number of Taiwanese buying real estate in Japan. And it's not just private investors, but corporations are also increasing their investment in the country.

According to the China Times, China Trust Real Estate Co. formed a partnership with a Japanese agency (Kukan Produce, based in Fukuoka)  in order to introduce properties in Tokyo to Taiwanese buyers.Read more

by Zoe Ward

Consumption Tax Increase: How will it affect buying apartments still under construction?

August 16, 2012Japan Property Taxes,Taxes in Japan,Consumption Tax in JapanNew Construction,Property Purchasing Guide,Real Estate News,All

With the planned increase in consumption tax receiving approval by Parliament last Friday, buyers of as-yet uncompleted apartments may be hit with the higher tax.

According to the tax plan agreed to on August 10, the consumption tax will increase to 8% from April 1, 2014, and 10% from October 1, 2015.Read more

by Zoe Ward