[Foreclosed] Land in Minamiaoyama 2 Chome

February 10, 2011Minamiaoyama,OmotesandoForeclosed Properties,Land,Tokyo

Court Evaluated Price: 150,000 JPY (1830 USD)
*UPDATE: The winning bid was 555,556 JPY (6775 USD). A total of 15 bids were made on the land.*

The cheapest (and smallest) land you will ever find in Omotesando. The land is in a laneway just behind Aoyama Dori Avenue and is 200 meters from Gaienmae Station and 660 meters from Omotesando Station.

With commercial land fronting Aoyama Dori valued at anywhere between 5~9 million JPY/sqm and residential land in Minami Aoyama ranging anywhere between 1.2 ~ 1.5 million JPY/sqm, this piece of land at only 78,500 JPY/sqm seems like a great deal, but...

by Zoe Ward

Japan investment property returns increase by as much as 2% over past 3 years

February 9, 2011Real Estate News,Market Information

Data released by Japanese real estate company, First Logic, has shown the average return from an investment building in Japan has increased by as much as 2% over the past 3 years.Read more

by Zoe Ward

[Foreclosed] Historic Hotel in Hakodate

February 6, 2011Foreclosed Properties,Historic Properties,Hokkaido

Court Evaluated Price: 39,600,000 Yen (483,000 USD)

*Update: The winning bid was 43,695,000 Yen*

A historically listed hotel in Hokkaido’s Hakodate City is up for public auction.

“Auberge Kokian” was built in 1909 in the Wayo-Secchu style of architecture (a blend of Japanese and Western) and constructed from Japanese cypress. It was originally a seafood store called Watanabe Shoten. It was in operation as a restaurant and inn until the end of 2009.Read more

by Zoe Ward

Pro-baseballer sued for not paying sales brokerage

February 2, 2011Real Estate News

A pro-baseball player from the Hanshin Tigers was recently involved in a court dispute over refusal to pay brokerage fees for an apartment he purchased with his wife in Kobe City.

On January 21, 2011, the Kobe District Court ordered Takashi Toritani and his wife to pay 1,000,000 JPY (12,000 USD) to the Kobe real estate agent who brokered the transaction in September, 2009.Read more

by Zoe Ward

Mitsui Real Estate ties up with Beijing Homelink

January 30, 2011Foreign buyers of real estate in JapanReal Estate News

Mitsui Real Estate Sales announced a new venture with Beijing Homelink Real Estate Service Brokerage, the biggest property agency in Beijing, to offer brokerage services for wealthy Chinese looking to purchase apartments in Japan.

Mitsui is also considering starting a specialized property consulting service in Beijing in 2011.Read more

by Zoe Ward

Gunma Golf Course For Sale

January 23, 2011Japan Golf Courses,Gunma PrefectureLand,Other Properties

~~Price: 150,000,000 JPY~~
~~Size: 664,690 sqm~~

SOLD

A par-72, 18 hole hillside golf course is for sale in Gunma Prefecture. The property is spread over 66 hectares and is a 2 hr drive west of Tokyo.

The grounds include a 4-storey clubhouse / hotel with an interior size of 5697sqm (61,300 sqft) and 37 rooms that can accommodate 150 guests. The golf club officially closed down in 2007 and has not been maintained since then.Read more

by Zoe Ward

Renting vs. buying in Japan: How to cut your rent by up to 50%

January 23, 2011Property Purchasing Guide,Tokyo

Japan's real estate market offers relatively high rental yields. Coupled with a low cost of funds (1% floating interest rates from Japanese banks, although rates on investment loans may be higher) the net return is one of the most appealing features to many investors.

The typical gross rental yield for an apartment in central Tokyo is between 4-6%. This may be as low as 2~3% for a high-end luxury expatriate apartment, and over 10% for a studio or one-room type apartment in an older building.Read more

by Zoe Ward