JAPAN PROPERTY CENTRAL K.K.

Japan's very first high-rise public housing condominium

July 26, 2011Shibuya,Miyamasuzaka Building,Miyamasuzaka,Shibuya Apartment,Miyamasuzaka ApaatoRedevelopment & Reconstruction

Miyamasuzaka Building / Apartment

Built in 1953 (58 years old)
As seen in 2002 horror film "Dark Water"
Apartments sold for between 600,000 ~ 1,000,000 Yen when brand newRead more

by Zoe Ward

Average secondhand apartment prices for June only increase in Osaka

July 24, 2011Market Information,Real Estate News

Tokyo Kantei has announced the average sale prices for secondhand apartments across Japan for the month of June, 2011.

In the greater Tokyo area, the average price was 29,750,000 Yen (376,580 USD). This is a fall of 0.7% from the month before, and a fall of 3.5% from June of 2010. It is also the first time in 17 months that prices have fallen.Read more

by Zoe Ward

Apartment being built directly on top of fault line

July 21, 2011Earthquake fault lines,Toyonaka,OsakaNew Construction,Osaka,Buyer Beware!

In Toyonaka City, Osaka, construction work is continuing on a 14-storey apartment building on a site that is directly above an active fault line.

"Uniheim Senri Momoyamadai" is located in Higashi-izumigaoka 3 Chome and is directly above the Butsunenjiyama Fault - an active fault line that runs from the north of Toyonaka and south to Suita in Osaka. It is an extension to the Uemachi Fault, a relatively active fault line which has a 2~3% chance of producing an earthquake within the next 30 years, and a hypothesized magnitude of 7.2 would result in an estimated death toll of 42,000.Read more

by Zoe Ward

Historic lodging house "Hongokan" to be demolished in August

July 20, 2011Hongo,Traditional Japanese Architecture,Bunkyo,HongokanReal Estate News,Historic Properties,Tokyo,Demolition

hongokan-exterior-1

Built in 1905, Hongokan is Japan's oldest 3-storey wooden lodging house. The L-shaped building has approximately 70 rooms and a total floorspace of 1500 sqm which is very large in scale for a wooden structure.

It was built by an aristocratic family from Gifu Prefecture and was initially used as a boarding house for the Tokyo Girl's Highschool (now known as Ochanomizu Women's College), but soon became a high-grade lodging house that provided luxury accommodation.Read more

by Zoe Ward

Tokyo office rents at historically low levels

July 19, 2011Tokyo Office Rent,Commerical Rent,Japan Office Rent,Tokyo Office Market,Japan Office,Tokyo OfficeRental Market,Real Estate News,Market Information,Office/Retail News & Information

Miki Shoji announced on July 7 that office rents for commercial properties in central Tokyo have fallen 4% in the past 12 months and are now at the lowest levels ever seen since data collection began.

A major contributing factor to this fall are the companies who are seeing lower earnings as a result of the March 11 Tohoku disaster and can no longer pay high rent for their office space.Read more

by Zoe Ward

New certificates to be issued for earthquake-resistant buildings

July 18, 2011earthquake-resistance,Tokyo earthquake-resistant buildings,construction,Japan building standardsReal Estate News

Starting in Fall, the Tokyo Metropolitan Government will issue certificates for free to buildings that satisfy current earthquake-resistance standards. The certificates will cover office buildings, apartments and houses and will be issued to all who apply.

The certificate can be displayed at the building entrance to put building occupants at ease. While self-governing bodies have been creating assistance measures, there are over 500,000 buildings in Tokyo that do not meet minimum earthquake-resistance levels. The city hopes that the introduction of the certificate will encourage owners of unsafe buildings to have them upgraded.Read more

by Zoe Ward

Rent for condominium-type apartments down in June

July 17, 2011rental market japan,average rent tokyo,real estate market tokyo,rent apartment tokyo,rental market tokyo,average rent japan,real estate market japan,rent apartment japanMarket Information,Rental Market,Real Estate News

According to Tokyo Kantei, the average monthly rent for a condominium-type apartment in greater Tokyo for the month of June has fallen compared to the previous month.

Average Rent:

Tokyo City: 2960 Yen/sqm, down 0.5%
Kanagawa: 2027 Yen/sqm, down 0.6%
Saitama: 1620 Yen/sqm, down 1.6%
Chiba: 1593 Yen/sqm, down 0.2%

by Zoe Ward