Residential land prices increase for first time in 31 years
Japan’s Standard Land Price for residential land has increased for the first time in 31 years, according to the data released by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) yesterday.
Details released for new high-rise in Miyamasuzaka
Details of a 180-meter high-rise for the eastern side of Shibuya Station have been published by the Cabinet Office. The Miyamasuzaka District Redevelopment will see a 33-story office and hotel tower built on the northern side of Miyamasuzaka Street.
Central Tokyo apartment prices reach new record high in August
According to REINS, the average reported sale price of a second-hand apartment in Tokyo’s central 3 wards of Chiyoda, Chuo, and Minato reached a record high of 1,554,100 Yen/sqm in August. This was a 13.5% increase from last year. Prices have increased by 35.4% since January 2020.
Brutalist gymnasium’s future still unclear
The Kenzo Tange-designed Kagawa Prefectural Gymnasium may be tumbling closer to demolition as earthquake-retrofitting seems to be more challenging and costly than anticipated.
Yaesu Book Center to be redeveloped
The 44-year-old Yaesu Book Center near Tokyo Station will close in March 2023 as part of a large-scale redevelopment project.
Tokyo's office vacancy rate reaches 6.49%
Central Tokyo’s office vacancy rate reached 6.49% in August, up 0.12 points from the previous month, however, there was a slight decrease of 0.08 points in the vacancy rate in existing buildings. Brand-new office buildings saw vacancy rates increase by 3.40 points to 42.12%.
Heritage-listed house in Hokkaido hits the market
An historic merchant house in Hokkaido has apparently been listed for sale for just 30 million Yen (US$210,000). The heritage-listed Yokoyama Residence was built in the 1860s and later.