Owner of foreclosed property attempts to destroy building
The Tokyo Branch of the National Tax Agency (NTA) had seized an office building due to the owner's non-payment of taxes. Immediately prior to the public auction, the owner damaged part of the building and removed electrical wiring and the air-conditioning system and effectively rendered the building unusable. The auction was delayed for 3 months and re-listed at a lower price. According to the NTA, this is an unprecedented situation.
The empty 10 story building in Kofu City, Yamanashi Prefecture, was purchased in June, 2009, by a female operator of a nursing care company. The new owner planned to demolish the current building and develop an aged-care rental apartment complex, with a total estimated cost of 2 ~ 4 billion Yen (25.6 ~ 51.2 million USD). However, due to non-payment of taxes, the building was seized by the Tax Agency.Read more
Retro apartment in the heart of Omotesando
Price: 37,800,000 Yen SOLD
Location: Kita-aoyama, Minato-ku, Tokyo
Price per sqm: 866,000 Yen
This vintage apartment just behind Omotesando Station has had a full renovation with new natural wood floors, all new water pipes, and new kitchen and bathroom. The renovation was planned by Keiji Ashizawa Design firm - their work is often featured in international design magazines such as Wallpaper, I.D. Magazine and Elle Decor.Read more
Nomura announces new "Ohana" apartments
Nomura Real Estate has announced plans to develop a new brand of low-cost condominium apartments under the new "Ohana" brand. While Nomura's most well-known "Proud" series of apartment buildings are typically priced from 50 ~ 60 million Yen per apartment, the "Ohana" apartments will be priced between 20 ~ 30 million Yen (255 ~ 385,000 USD) each. They hope to sell over 1000 apartments per year with an annual sales target of 30 billion Yen.Read more
Yotsuya Co-Plus - Japan's first privately developed condominium apartment
Yotsuya Co-Plus is Japan's very first privately developed condominium as well as the first of the "Co-Plus" series of apartments.
Although the first condominium was the Miyamasuzaka Apartment built in 1953, this was built by the public housing commission.Read more
Increased risk of large quake in Miura-hanto fault group
- Earthquake risk has increased as a direct result of Tohoku earthquake
- 11% chance of Magnitude 6.7 quake occurring within the next 30 years
The Japanese Government's Earthquake Research Committee announced on July 11, 2011, that the March 11 Tohoku earthquake has increased the chance of an earthquake occurring along the Miura-hanto fault group.
It has been predicted that there is a 11% chance that the Miura-hanto fault group will produce an earthquake with a magnitude of 6.7 within the next 30 years. This fault group is classified among the most active faults in Japan.
Experts warn that a large earthquake caused by the Miura-hanto fault group could produce a Read more