Building Regulations in Japan

December 10, 2011Building a house in Japan,Japan Building RegulationsHome Design,Property Purchasing Guide,All

The following is a brief guide to some of the building regulations you will encounter when building a house in Japan.

Yosekiritsu

This is the building volume-to-land ratio and defines the maximum total floorspace allowed on a block of land. The ratio is expressed as a percentage, eg. 200%. In built-up areas in central Tokyo the Yosekiritsu is high, whereas in suburban and rural areas, the Yosekiritsu will be much smaller. The highest ratio in Tokyo is 1300% which applies to commercial land in the Yurakucho / Marunouchi area around Tokyo Station. Even still, there are buildings that exceed this ratio because they have borrowed air rights from neighboring blocks. Read more

by Zoe Ward

Compact Living in Tokyo

December 9, 2011Tsukiji,Tsukiji Apartments,Small apartments in JapanHome Design,Rental Market,All

With typically high rents, tiny, cramped apartments are plentiful in Tokyo and there is no shortage of tenants looking for smaller, affordable accommodation. There is a boom in 'one-room', or studio apartments, as more and more young people move closer to Tokyo for work. Limited space has led to some creative designs, and this apartment building in Tsukiji called "CT7165" is no exception.Read more

by Zoe Ward

Niseko Kogen Hotel sold

December 8, 2011Hokkaido Hotels,Japan Hotels,Niseko,Niseko HotelsReal Estate News,Hokkaido,All,Hotel News

Niseko Kogen Kanko, a subsidiary of Tokyu Land, announced that they will be selling the Niseko Kogen Hotel to an undisclosed buyer for just over 1 billion Yen. The buyer is said to be a fund based in Asia.

The Niseko Kogen Hotel will remain open until March, 2012, at which time the new buyer will take over the property. The hotel is aging, so it is expected that the new buyer will demolish and rebuild a high class international hotel on the site. The current 59 room, 4-storey hotel was built in 1975, and room rates start from 7,000 Yen/night (90 USD). In recent years, construction of new condominiums in the area have had a negative impact on the hotel's profitability. Read more

by Zoe Ward

Buying or renting a 'jiko bukken' in Japan

December 8, 2011Property Purchasing Guide,All

A "jiko bukken" is a property where the former occupant died of unnatural causes, such as suicide, murder, fire or neglect. They can be rented or purchased at very low prices, provided you are okay with the 'history' of the home or apartment. There are a growing number of individuals and companies that specialize in purchasing these properties at huge discounts, and either renting them out of re-selling in the future. In the case of a house, the house may be demolished and the land re-sold.Read more

by Zoe Ward

Mitsubishi Estate sells Akasaka Park Bldg

December 7, 2011Commercial Property,Commercial Real Estate in Japan,Akasaka Park Building,Akasaka OfficesReal Estate News,Sold Properties,All,Commercial Real Estate

On November 15, 2011, Japan Real Estate Investment Corporation purchased Akasaka Park Building and land for 60.8 billion Yen (779 million USD). The seller was Mitsubishi Estate. The building had an appraised value of 62.5 billion Yen in October, 2011.

The buyer believes that the image of Akasaka has improved over the years, particularly with the development of Akasaka Sacas just behind the building, and are expecting diversified demand from tenants into the future.

Akasaka Park Building was completed in 1993. The 30-storey building has a total floor space of approximately 97,317 sqm and a standard floor area of 2033 sqm. The total size of the land under the building is 14,198.20 sqm.Read more

by Zoe Ward

Kagawa Prefecture offers free homes to evacuees

December 7, 2011Tohoku,Kagawa PrefectureAll,2011 Tohoku Disaster

Kagawa Prefecture announced that they are offering free temporary housing for evacuees from the disaster affected areas of Fukushima, Miyagi and Iwate Prefectures. The offer applies to properties that are listed for less than 60,000 Yen/month, or 90,000 Yen/month for 5-person homes. The maximum lease term is 2 years. The Prefecture will also bear the costs of any necessary moving-out repairs as well as agency fees, with the final costs to be borne by the three affected Prefectures.Read more

by Zoe Ward

7 Fukushima Golf Courses sue TEPCO for lost revenue

December 6, 2011Fukushima,Japan Golf,Tohoku earthquake,Japan Golf CoursesAll,2011 Tohoku Disaster

On November 30, 2011, seven of the forty golf clubs that form the Fukushima Prefectural Golf Association filed a claim against TEPCO for damages arising from loss of income.

The clubs have reported a total loss in revenue of 247 million Yen (3.16 million Yen) between March and August, 2011, which they say was directly attributed to the radiation fears from the troubled nuclear power plant.Read more

by Zoe Ward