Strong demand for Nomura Proud Series of apartments
Nomura Real Estate Development's "Proud Series" of condominiums have seen strong sales and same-day sellouts for many of their buildings.
At the end of November, Proud City Akabane in Tokyo's Kita-ku had received purchase applications on all 214 units released for sale in the initial offering. The second offering will begin in early January. The apartment building is still under construction and completion is expected by the beginning of November, 2011. There are a total of 284 units priced from 41.3 - 108.8 million JPY and sized between 58.92 - 100.32 sqm.Read more
Tokyo's most expensive rental apartments
The Real Estate Economic Institute has released a report on the luxury rental apartment market in Tokyo's 23 Wards. Luxury apartments were defined as having a monthly rent of 300,000 JPY or higher. The findings are translated below:Read more
Nakagin Capsule Tower Building
The Nakagin Capsule Tower Building built 1970-1972 is a famous example of Japan’s metabolist movement. Now almost 39 years old, the deteriorating building is plagued with water leaks and asbestos problems.Read more
Asaya Department Store demolition to start later this month
The Asaya Department store in Maebashi City, Gunma Prefecture, is scheduled to be demolished with work expected to begin by the end of this year. The city purchased the site from the former owner and have plans for redevelopment.
The 3-storey art deco building was constructed by Yasuzo Kida and completed in 1934. The store was opened by the former owner's great grandfather and was the first department store in Gunma Prefecture. After the war it apparently had a ferris wheel on the rooftop.Read more
UT Building Project (Stalled & Foreclosed)
*Update: As of December, 2010, this building has been foreclosed on and is now up for public auction with a court evaluation price of 1,005,030,000 JPY (12 million USD).*
Located alongside Aoyama Dori Avenue, halfway between Omotesando and Shibuya Stations, this building has been 'under construction' for several years. Construction work stalled at least 2 years ago. Earlier last year there was a crane atop the building, but it has since been removed and there are no signs of life.Read more