Does your apartment building have earthquake insurance?
June 15, 2011Chiba,Earthquake damage,Earthquake insurance,Japan earthquake,Liquefaction,SSendai,Tohoku earthquake,UrayasuEarthquake Information,Real Estate News
*If you own an apartment in Japan, you can take out optional earthquake insurance. This insurance only covers your apartment and does not cover the common areas of the building or the structure itself. The management association for the building can take out earthquake insurance on the common areas, but as it turns out, less than a third of all buildings are covered.
Owners of apartments in uninsured buildings are facing great repair bills as a result of the March 11 Tohoku Earthquake.Read more
Tokyo second-hand apartment sales down 10% in May
June 13, 2011Real Estate News,Market Information
Real Estate Information Network for East Japan (REINS) announced their results for real estate transaction movements in the Tokyo area for the month of May, 2011.
A total of 2215 contracts were made on second-hand apartments. This is a fall of 10.7% compared to May of the previous year, and the second month of decline. In April, the decline was 14.4%. The average purchase price was down 0.5% to 25.31 million Yen (308,000 USD). The average apartment size was 65.09 sqm and average age was 18.19 years.Read more
Tokyo Bayside Condominium Market - From Boom to Bust
June 10, 2011Tokyo apartment pricesReal Estate News,Market Information,Tokyo
Three months have now passed since the Tohoku Earthquake and Tsunami. The affected areas of Tokyo Bay are seeing a growing disparity between the desired purchase and selling prices of condominiums on the secondary market.
Difference of 10 million Yen between buyers and sellers
Buyers are anticipating a huge slump in prices for bayside apartments. On the other side, sellers are still hoping to sell their apartments at pre-earthquake values - a time when the bayside areas were seeing huge rises in popularity.Read more
The 2011 Japan earthquake and what it means for the real estate market
April 12, 2011Edogawa,Japan earthquake,Japan economy,japan real estate market,Liquefaction,Reclaimed land,Tohoku earthquake,Toyosu,YokohamaEarthquake Information,Real Estate News,Market Information
One month has passed since the March 11 Tohoku earthquake and tsunami. With strong aftershocks continuing and a nuclear disaster that was just upgraded to the maximum level, uncertainty remains over what will happen to the Japanese economy in the short and medium term.Read more
A message from Minato City regarding the Tohoku Earthquake
April 7, 2011Japan earthquake,Liquefaction,minato,Minato-ku,Tohoku earthquake,Tokyo shindo levelEarthquake Information
On April 5, 2011, Minato City released the following bulletin:
Damage within Minato-ku as of March 12, 2011
Minato-ku experienced a Shindo level (seismic intensity scale) of lower 5 on March 11. The whole of Tokyo was reported to have a Shindo level of upper 5, but exact levels within Tokyo varied. Click here to read about the Japanese seismic scales.Read more
Damage to Urayasu City and Tokyo Disneyland
March 21, 2011Chiba,Disneyland,Japan earthquake,Liquefaction,Tohoku earthquake,Tokyo Disneyland,Tokyo earthquake,UrayasuEarthquake Information
The effects of March 11's earthquake were felt in Tokyo's bayside area which is mostly reclaimed land. There were cases of liquefaction, broken water pipes, gas outages and leaning buildings.
"The north side of our house has sunk about 20cm due to liquefaction and is leaning. Watery sand covered the garden." - reported one resident.Read more
March 11 Earthquake and the condition of Tokyo
March 13, 2011Earthquake damage,Japan earthquake,Tohoku earthquake,Tokyo earthquakeOther News,2011 Tohoku Disaster
The initial quake hit early on a Friday afternoon while many people were working. Tokyo's 23 Wards recorded a Shindo Level of 5-upper. Click here to read about the Japanese seismic sales.
Immediately after the quake, shopowners and local residents went to check on each other. Many officeworkers had vacated their buildings and were waiting on the streets when a strong aftershock hit about 30 minutes later.Read more