Tiny modernist house demolished
A 60-year old modernist home in Tokyo’s Nakano Ward has just been demolished. The ‘SH-60’ house was designed by Kenji Hirose. It had a floor area of just 29 sqm (312 sq.ft) and was designed for a famous painter and illustrator.
Our Japan Property Market Report for 2021
2021 saw much of the country in a state or semi-state of emergency for most of the year. Nevertheless, the Nikkei stock index ended the year at the highest level seen since 1989. The real estate market also steamed ahead as buyers appeared to be unfazed by the pandemic. For most sectors of the real estate market, conditions remained somewhat similar to 2020. Residential prices continued to rise as inventory dwindled. Rental prices diverged as larger apartments saw rents rise while smaller studios saw rents fall.
Please feel free to view or download the PDF of our annual Japan Property Market Report, linked below.
Yurakucho and Namboku subway lines to see extension by 2030s
The national government and Tokyo metropolitan government are firming up plans for the extension of the Yurakucho and Namboku subway lines. The extensions could be completed by the 2030s.
Snow Peak to open housing subdivision this year
Outdoor lifestyle brand Snow Peak is expanding its resort development in Niigata to include housing.
What’s an appropriate amount to pay for apartment repair fund fees?
When you own an apartment in Japan you, along with the other apartment owners in the building, will pay monthly fees each month that go into the building’s repair reserve fund. These fees go towards periodic maintenance and repairs of the common structure of the building. Some buildings have high fees, while others have low fees. What’s the reasoning and what is a reasonable amount to expect?
Tokyo Apartment Sales in December 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of December 2021:
Luxury rental apartments added to Torch Tower
A recent use-change will see some luxury rental apartments added to Japan’s tallest tower-to-be. On January 8, the Nikkei Shimbun newspaper reported that the 390-meter tall Torch Tower, on the northern side of Tokyo Station, will have around 50 apartments with monthly rents ranging from 1 ~ 5 million Yen (approx. US$8,650 ~ $43,200). The largest apartment will be in the 400 sqm (4,300 sq.ft) range.