The difference between the listing price and sale price of apartments in 2011

February 8, 2012japan apartment priceMarket Information,All

Based on apartment transaction data from 2011, Tokyo Kantei have provided details on the difference between the asking price and realized sales price of second-hand apartments in greater Tokyo and the Kansai region. It is quite common for an apartment on the secondary market to sell below the listing price.Read more

by Zoe Ward

New earthquake resistant certification in Tokyo

February 7, 2012Earthquake Information,Real Estate News,All

The Tokyo government is introducing a new certification system for residential buildings that can continue to be habitable after a large earthquake. Developers and building association unions can apply for recognition starting in April this year. If a building has the certification, it is thought that the apartments will be easier to market by developers, but actual construction costs will be higher which may result in a higher selling price.Read more

by Zoe Ward

Osaka sees first net inflow of new residents since 1973

February 5, 2012Osaka,Japan populationAll,Osaka,2011 Tohoku Disaster

The Ministry of Internal Affairs and Communications released information on the migration movements within Japan in 2011 using data from the basic resident registers. Iwate, Miyagi and Fukushima Prefectures each saw a net outflow as residents moved out of the disaster-struck areas. The number of residents moving out exceeded the number of residents moving in to these three prefectures by 41,226. This is the first time since 1970 that the number has exceeded 40,000 residents.Read more

by Zoe Ward

Growing concern over Tokyo's shortage of emergency evacuation centers

February 5, 2012Earthquake Information,Living in Tokyo,All

  • 1.3 million residents will be turned away
  • 2.39 million residents will lose their homes
  • 4.48 million residents will be stranded until transportation services resume

Tokyo City is currently unable to provide enough emergency accommodation for the temporary refugees that would not be able to return home in the event of a magnitude 7 earthquake hitting Tokyo.Read more

by Zoe Ward

Residents suing Mitsui over liquefaction damage

February 4, 2012Liquefaction,Urayasu City,Chiba Prefecture,LawsuitsReal Estate News,All,2011 Tohoku Disaster

Approximately 32 residents from Urayasu City, Chiba, are suing Mitsui Fudosan for 700 million Yen after their townhouses were damaged by liquefaction during the Tohoku earthquake.Read more

by Zoe Ward

Singaporean investment fund buys hotel in Okinawa

February 3, 2012Okinawa,Japan Hotel News,Okinawa HotelsOkinawa,Real Estate News,All,Hotel News

Singaporean investment fund RECAP (Real Estate Capital Asia Partners) has purchased the CSK Tsubogawa Hotel in Naha City, Okinawa, for an undisclosed sum.

The business hotel was scheduled to open in 2009 but the former owner, CSK Holdings, fell into financial difficulties. Although construction was complete, the hotel never opened. The former owner also built an office building on the adjoining site in 2009, which also remains empty.Read more

by Zoe Ward

Brick warehouse in Gunma at risk of demolition

February 2, 2012Historic properties in Japan,Gunma Prefecture,Taisho Era ArchitectureDemolition,Historic Properties,All,2011 Tohoku Disaster

A 90 year old red-brick warehouse built during the Taisho period in Ora Town, Gunma, is at risk of being demolished in the near future.

The building was once used in the production of "nakanogasuri" - a style of cloth-weaving dyed with wooden patterns, and is now owned by the JA Oura Tatebayashi Agricultural Cooperative (JA). The warehouse suffered structural damage during the Tohoku earthquake and the owner has expressed intent to demolish the structure.Read more

by Zoe Ward