RYU:X TOWER - Okinawa's latest high-rise apartments
Three of Japan's major developers, Daiwa, Orix and Daikyo, have announced the details of their latest high-rise condominium project in Naha City, Okinawa. Called "RYU:X TOWER", the two 30 storey buildings will have 676 apartments ranging from one to three bedrooms, and priced from 28 to 69.2 million Yen.
The developers were selected by the city in 2006 to redevelop the site. The first stage of the redevelopment including building offices and hotel facilities. The second stage includes the two residential towers.Read more
Tokyo's newest and tallest wood-frame mansion
Tokyo's first 5-storey wooden structure - an apartment building - is to be built near Shimouma in Setagaya-ku.
Under a revision to the Building Standards Act in 2000, wooden structures over 4 stories are permissible as long as they meet building strength and fire resistant regulations. Prior to this amendment, a law made during the Taisho period (1926 - 1926) limited wooden structures to 3 stories.
Although the amendment was made 12 years ago, it has not been widely taken up by the construction industry. In Tokyo city, just one 4-storey wooden residence was built in Chiyoda-ku in 2011.Read more
Yakuza member lies in order to buy apartment
A member of the Yamaguchi-gumi, Japan's largest criminal organization, was arrested Kyoto on June 18 for the fraudulent purchase of an apartment.
According to the Kyoto Prefectural Police, the accused signed a contract on an apartment on December 20, 2011. The signing took place at a real estate agency in Kyoto's Nagakyo-ku. The property in question was a secondhand apartment priced at 16,750,000 Yen, which was to be used for the buyer's personal residence.Read more
No. of new earthquake insurance policies up 7.3%
According to the Non-Life Insurance Rating Organization of Japan (NLIRO), the number of new earthquake insurance policies in 2011 increased by 7.3% from the year before to 9,335,873 policies.
In addition, the number of contracts on residential properties in force at the end of the 2011 fiscal year had risen by 10.5% to 14,088,665. This is the highest growth rate seen since 1996 when it increased by 15.3%. In Fukushima Prefecture, the rate increased by 51.3%. Incidentally, Fukushima previously had a low proportion of property owners with earthquake insurance. Miyagi Prefecture had the second highest increase of 30.1%, and Iwate Prefecture was third with a 23.7% increase.Read more
Corner unit for sale in Park Mansion Roppongi
Price: 380,000,000 Yen No longer on the market
Size: 155.43 sqm (1672 sqft)
A 3-bedroom corner apartment on the 3rd floor of Park Mansion Roppongi has been recently listed for sale.
At 2,445,000 Yen/sqm, this apartment is more expensive than those in the nearby Roppongi Hills Residence. Current market prices in this building range from 1,800,000 ~ 2,500,000 Yen/sqm. When sales first began in 2007, apartments were listed at 3,800,000 Yen/sqm. The 8th floor penthouse was priced at 4,930,000 Yen/sqm, making it the most expensive apartment on a sqm basis in Japan at that time.Read more
Tokyo's office construction boom and it's repercussions
The construction of new office buildings in central Tokyo is steadily progressing. In January, Mitsubishi Jisho's Marunouchi Eiraku Building was completed. In Spring, JP Tower and the Palace Building were completed, and Otemachi Financial City will be completed in fall.
According to the Urban Research Institute Corporation, the total supply of commercial office space in 2012 will reach 2,680,000 sqm (28,836,800 sqft). This is close to the past decade's peak of 2,980,000 sqm in 2003. A quarter of the office supply is located in the Marunouchi area on the western side of Tokyo Station.Read more