Korea Town leads to rise in land values
The South Korean pop culture boom in Shinjuku's "Korea Town" has led to a large increase in surrounding land values.
According to the 2012 Koji-Chika assessed land values, the Shinokubo area in Shinjuku which has a large South Korean population has seen land values increase by 1.7% over the past year. While the nationwide residential land values have fallen by 2.3% and 3.1% in business districts, Korea Town has managed to escape from the declining land values.Read more
Yokohama developer teams up with Shanghai real estate company
Yokotoshi Kaihatsu announced on March 26 that they have formed a business partnership with Shanghai Dewei Real Estate. The business partnership was formed as Yokotoshi is nearing insolvency. Dewei will hold a 36% interest in Yokotoshi and will receive two seats on the board of directors.
With the steep rise in real estate prices in China's mainland, investors are seeking offshore investment opportunities. The partnership aims to introduce Japanese real estate to Chinese buyers. Dewei will also provide real estate services to Japanese businesses and clients who are looking for office and residential space in China.Read more
Asahi Kasei to rebuild two condominiums in Shibuya
Asahi Kasei Fudousan Residence Corp will be rebuilding two small apartment buildings in Shibuya-ku.
The first is "Udagawacho Jutaku" (3-3 Udagawacho) which is located alongside "Shibuya Koen Dori Avenue and next to the Shibuya Tobu Hotel. The street includes stores such as Parco, Gap and Opening Ceremony. The current 7-storey building has just 16 apartments and was completed in 1961. Approval from all apartment owners was obtained in September 2010 and demolition began last month.Read more
Carparking as an economic indicator
The Nikkei's Sumai section has an interesting table showing the change in the ratio of carparks to apartments in new buildings across greater Tokyo.
