Mitsui starts construction of 53-storey residential tower in Tsukishima

Mitsui Fudosan announced that they have started construction of the Tsukishima 1 Chome 3, 4, 5 Redevelopment Project on February 20, 2012. The large complex will include a 53-storey, 703 unit residential tower and a smaller 12-storey, 44 unit residence. The name of the condominium is "Capital Gate Place".

Shimizu Corporation is in charge of construction and completion is scheduled for summer of 2015. The high-rise tower will be constructed using vibration-control (seishin) earthquake-resistant construction with dampers. There will also be backup generators that can supply necessary power for up to three days in the event of a power shortage.Read more


Moves to restrict land purchases by foreigners near Camp Schwab

Japan's Minister of Defense, Naoki Tanaka, is pressuring the government to introduce legislation that will restrict the purchase of land by foreign corporations and individuals in the Henoko area in Naga City, Okinawa. Henoko is home to Camp Schwab and is the proposed site of a new US Military air base, which will replace the Futenma Airfield in Naha.Read more


[Foreclosed] Japanese Castle in Hokkaido

*NO LONGER AVAILABLE*

Bidding started from 16,663,000 Yen

This foreclosed property in Akabira City is a replica of a traditional Japanese castle. The 6-storey reinforced concrete structure was originally called 'Tokugawa Castle" and was a doll museum. It was owned by the only festival doll manufacturer and supplier in Hokkaido, and the company used the space to display and sell their wares. The doll company still seems to be operating, but they have not used this building for the past five years. It has not been maintained during recent years and has some broken windows and roof damage.Read more


Foreclosures set to increase as more borrowers report difficulty making mortgage payments

The number of home-owners in Japan who are falling behind in mortgage payments and relinquishing their homes are increasing. According to the Fudosan Keibai Ryutsu Association (FKR), the number of foreclosed properties in 2010 was 51,746. This was a decrease of 7,000 from 2009, but is still at a high level.Read more


An update on building damage from the Tohoku earthquake

Just after the March 11 Tohoku earthquake it was announced that zero buildings had collapsed, which everyone naturally assumed was a testament to the strict building codes in Japan.

However, it has now been acknowledged that 100 apartment buildings in Sendai city have been completely destroyed.

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Fukuoka's Island City land not selling

In a similar fashion to Yokohama's Minato Mirai district, Fukuoka City's manmade island is also running at a huge loss.

According to the city, the deficit at the time of the project completion was 18 billion Yen (23.4 million USD). In 2009, the city had forecast land sales to result in a 12.5 billion Yen positive balance. However, poor economic conditions meant that land values fell from 13,000 to 10,000 Yen/sqm, plunging the project into the red.Read more


Osaka to become Japan's Manhattan?

Osaka City is planning to increase the building height restrictions alongside their landmark Misouji avenue, in the hope to create a cityscape similar to Manhattan.

The current maximum building height alongside Midosuji is 50 meters, but the city is considering lifting the limit to 200 meters by as early as 2013. The new height limit would include office buildings, apartments, education and research institutions. The city is also considering a plan to completely ban cars from the street and turn it into a park, although that is not planned for another 40 years.Read more