US fund buys 1,200 share houses
U.S. investment fund Lone Star is acquiring approximately 1,200 share houses from debtors that fell for a failed investment scam operated under the Kabocha-no-basha brand. The total acquisition price is estimated to be around 70 billion Yen (approx. US$536 million).
Meguro Gajoen back on the market
On May 11, the Toyo Keizai Online publication reported that China’s sovereign wealth fund is considering the sale of the landmark Meguro Gajoen hotel and office property in Tokyo.
Japan’s high-rise apartment market from 2022 onwards
The latest report from the Real Estate Economic Institute has estimated that a total of 112,000 apartments in high-rise towers are currently in the pipeline to be built across Japan from 2022 onwards. This is an increase of 17,000 units from last year’s report.
Osaka temple up for foreclosure
A famed temple in Osaka with a history going back over 1,000 years has been put up for a foreclosure auction to be held this month.
Tokyo Apartment Sales in April 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of April 2022:
New housing starts up 6.6% in 2021
According to the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT), new housing starts across the country reached 865,909 units in 2021, up 6.6% from 2020.
Fixed interest rates reach to reach highest level in 8 years
Five of Japan’s mega-banks announced plans to increase the premium interest rate on new home loans with a 10-year fixed rate. These rates will apply to new loans issued in May. Floating interest rates will not change.