Tokyo apartment rent falls to lowest level in 4 years

October 21, 2011average rent tokyoReal Estate News,Rental Market,Market Information,All

According to Tokyo Kantei, the average rent for an apartment in greater Tokyo for the month of September fell 0.1% to 2578 Yen per square meter. In Tokyo's 23 wards, the average rent remained unchanged at 3,038 Yen/sqm, but is down 3.1% from September, 2010, and is currently at the lowest level seen in over 4 years. The average rent fell 0.2% in Kanagawa, 0.8% in Chiba and 2.6% in Saitama with Saitama City recording a fall of 4.2% from the month before. The aging apartment buildings in the City's Chuo and Urawa wards contributed to the decline.Read more

by Zoe Ward

[Foreclosed] 13 Apartments in Gotenyama Trust Court

October 20, 2011Foreclosed Tokyo,Japan Foreclosed Properties,Gotenyama Garden,Gotenyama Trust CourtForeclosed Properties,All

 

Court Evaluation: 543,200,000 Yen (7.05 million USD)

*Update: The winning bid was 548,000,888 Yen. Only 1 bid was made on the property and it was by a corporate entity.*

A group of 13 apartments have been foreclosed in Gotenyama Trust Court, near Shinagawa Station. The apartments range in size from 63.24 ~ 317.24 sqm (680 ~ 3413 sqft) and the total floor size is 1,552.83 sqm (16,708 sqft). The Court's evaluation of the value of the apartments is approximately 379,000 Yen/sqm.Read more

by Zoe Ward

Apartment prices in Tokyo down 10% in September

October 19, 2011Tokyo Land Prices,Tokyo apartment pricesReal Estate News,Market Information,All

According to the latest data from the Real Estate Information Network for East Japan (REINS), the number of purchase contracts on houses and apartments sold on the secondary market in greater Tokyo in September fell over 3% from the previous year. The average selling price for both apartments and houses in greater Tokyo still remain lower than in 2010.Read more

by Zoe Ward

Home-builder to test new homes for radiation

October 17, 2011Real Estate News,All

Suzuki Kensetsu, a home-builder in Betsukai Village, Hokkaido announced that from October they will be testing all of their newly constructed homes for possible radiation contamination prior to delivering them to new owners.Read more

by Zoe Ward

What is the current market value of an apartment in Tokyo?

October 16, 2011Real Estate News,Market Information,All

Real estate research and marketing company, Attractors Lab, have collected data from apartment sales in greater Tokyo and have made this data available for free through their new site called Sumai Surfing (www.sumai-surfin.com). Through the website, users can view the average apartment selling price when brand new and the current market price. Registered users are also able to view past sales history. Using the collected data, the current market value for almost any apartment can be estimated.Read more

by Zoe Ward

Apartment in Osaka to be tsunami evacuation point

October 15, 2011TsunamiReal Estate News,All,Osaka

An apartment building currently being constructed in Osaka's Yadogawa-ku has been designated as an evacuation site in the event of a tsunami.  This is the first new building in Japan to be designated prior to the beginning of apartment sales.

"Mikuni no Kawabe no Mori River Garden" is located alongside the Kanzakigawa River. The 15 story building with 197 apartments will be completed in January, 2013. The common hallways from the 3rd floor (7 meters high) and above can accommodate approximately 1000 evacuees in an emergency.Read more

by Zoe Ward

Land and apartment prices continue to fall [Nomura]

October 12, 2011Tokyo Land Prices,Tokyo apartment pricesReal Estate News,Market Information,All

Nomura Real Estate Urban Net published the results of their survey on residential land and apartment price movements on October 1, 2011. According to the data, bearish patterns continue for residential land prices in greater Tokyo (Tokyo, Kanagawa, Saitama and Chiba).

Between July and September, residential land prices fell 1% in greater Tokyo. Of the surveyed areas, 5.7% had an increase in land prices, 64.3% had no change and 30% had a fall in prices. Meanwhile, land prices in Tokyo's 23 wards saw no change over the past 12 months while Saitama and Chiba Prefectures both saw a decline of 1.9%. Read more

by Zoe Ward