Ark Hills Sengokuyama Mori Tower reaches completion
Construction of Ark Hills Sengokuyama Mori Tower, a combined residential and office tower in the Roppongi/Toranomon area, was completed on August 7.
The two hectare site has a 47-storey mixed residential and office tower, along with 8-storey low-rise apartments. The development took a total of 24 years, when including the long process of negotiating with local residents.
In the high-rise tower, offices are located on floors 25 to 47, while residences are on floors 3 to 24. Currently, 55% of the commercial tenants have been confirmed. They are predominantly foreign law offices and IT companies.Read more
Foreign investors return to Japan's property market
According to the Mainichi Shimbun, Foreign investors and foreign capital investment corporations are showing enthusiasm for Japan's real estate market. European and American property and investment companies are continuing to purchase residential and commercial buildings, while a major US bank has set forth on establishing a REIT in Japan.
The background to this renewed vigor is the outflow of funds in Europe due to the European debt crisis, and a general feeling that the real estate market in Japan has bottomed out. Experts are anticipating that the long-stagnating real estate market is finally reaching a turning point.Read more
Same day sell-out in Proud Funabashi
Sales of new apartments in Nomura Real Estate and Mitsubishi Corporation's "Proud Funabashi" condominium development in Funabashi City, Chiba, have been surprisingly strong with all of the units in the 2nd stage selling out on the same day.Read more
Real estate transaction volume reaches 4 year high
The volume of real estate transactions in Japan has started to pick up, showing signs of an economic recovery.
In the first half of 2012, transactions of office and residential buildings in major cities (Tokyo, Osaka, Nagoya etc), reached the highest level in four years.
The total volume of transactions by listed companies, including REITs, reached 1.1375 trillion Yen (14.5 billion USD). This is 10% higher than the first half of 2011, and is the highest level since the second half of 2008 which was the time of the Lehman Shock.Read more
Terrace Shibuya Mitake sold out 7 months prior to completion
Although completion is not expected until February 2013, the 128 apartments available for purchase in Terrace Shibuya Mitake have now been sold*.
The new apartment building is in a prime location just one minute from Shibuya station. New and near-new apartments this close to Shibuya station are very limited in number.
There are a total of 196 apartments in the 17-storey building, of which 68 will be given to original landholders from the Mitake Building which once stood on the site. The remaining 128 were sold by the developers.Read more
Foreclosed Aomori shrine for just 1 million Yen
The Hirosaki Toshogu Shinto Shrine in Hirosaki City, Aomori, is being put up sale as the shrine owners undergo bankruptcy proceedings.
The administrators announced that they are in negotiations with a Tokyo-based real estate company to sell the main shrine for just 1 million Yen (12,700 USD).Read more