Apartment buildings taking longer to redevelop
There have been 282 documented cases of condominium-style apartment buildings rebuilt across Japan, according to a report published by Tokyo Kantei last month.
Japan’s most expensive resort towns
Wondering where the most expensive resort areas are in Japan? According to a ranking by proptech company PriceHubble on September 20, 2022, the beachside town of Hayama in Kanagawa Prefecture is top of the list with an average price of 410,000 Yen/sqm.
Tokyo Apartment Sales in October 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of October 2022:
Home loan interest rates rise in November
Three of Japan’s five mega-banks have increased the base interest rate on 10-year fixed-rate home loans issued in November. This is in response to shifts in the long-term interest rate.
Osaka to demolish 99-yr old official residence
The Osaka Prefectural government is considering demolishing the 99-year old official prefectural governor's residence. The historic home had been occupied by many governors over the past century but there have been growing concerns over its safety in the event of an earthquake.
Land use restriction law goes into effect but lacks power to impede land purchases
A new law went into effect in September that gives the national government the power to look up the names, addresses and nationalities of landowners near sensitive locations, such as military bases and remote islands. But, this law does not give the government any power to restrict or ban purchases or ownership of land by foreign entities.
Historic school building in Ueno to be demolished
The 94-year-old former Shitaya Elementary School in Ueno will be demolished by Taito ward sometime in 2023. This was one of the ‘revival elementary schools’ built after the devastating 1923 Great Kanto earthquake.