Old apartment building to be replaced with office
Nomura Real Estate Holdings is acquiring an entire condominium building in Takanawa from its apartment owners association. The 42-year-old apartment building will be demolished and replaced with an office building.
Hokkaido city struggling with abandoned buildings
Kushiro City in Hokkaido is struggling with a growing number of vacant and seemingly-abandoned buildings in the city center.
Leasehold apartment building in Monzennakacho sold out 12 months prior to completion
A 12-story apartment building under construction in Tokyo’s Monzennakacho neighborhood has completely sold out within two months of sales. Demand from buyers has been high despite the fact that the building is on leasehold land.
Shirokane road widening plan to start this year
Bad news for this stretch of historic shophouses alongside Kitasato Street in Shirokane. On July 25, the Tokyo Metropolitan Government announced that a road widening plan will start sometime this year that will see the road widened from its current 11 meters to 20 meters. Doing so will probably require some buildings to be partially or entirely demolished.
Apartment prices in Minato Ward increased by 96% over past decade
The average reported sale price of a second-hand apartment in Tokyo’s central Minato ward has increased by 96% over the past 10 years, according to REINS.
Central Tokyo’s population continues to grow
Despite the pandemic, the number of Japanese residents in Tokyo’s central 3 wards of Chuo, Chiyoda, and Minato, reached a record high in July.
Central Tokyo apartment prices up 18.7% from last year
In July, the average reported sale price of a second-hand apartment in central Tokyo’s 3 wards of Chiyoda, Chuo, and Minato reached 1,543,800 Yen/sqm, a record high. This is a 7.7% increase from the previous month and an 18.7% increase from last year.