Landmark hotel in Atami closes its doors
Atami’s Hotel New Akao closed its doors for good on December 17, ending 48 years of operations. With demand not expected to return in the near future and an aging building, the decision was made to shut down.
A forecast of the new apartment market in 2022
On December 21, the Real Estate Economic Institute published a forecast of the new apartment market across the greater Tokyo region.
Housing in Tokyo is 30% smaller than the national average
Housing in Tokyo is notoriously small and cramped, and a report issued last year by the Statistics Division of the Tokyo Metropolitan Government proves it.
How to better understand the market price of land
Looking to buy land to build on but a little unsure if you're paying the right price? The best way to determine land prices is to take the time to look at various real estate listings and talk with your agent. With a little research, you will work out how much you can expect to pay in a certain neighborhood.
Construction starts on Nihonbashi high-rise
Construction has now started on a 52-story mixed-use development alongside Nihonbashi River. The 284-meter tall tower will include 100 luxury residences on the top four floors. A further 50 apartments will be included in the 7-story low-rise building alongside the river.
Apartment redevelopments may become easier
The government is considering a further loosening of rules regarding the redevelopment of older apartment buildings. Under current regulations, at least 4/5ths of the apartment owners must vote in favor to redevelop an apartment building. To demolish the building and sell off the land, a 100% vote in favor is usually required.
The proposed change would reduce the voting ratio to 3/4ths for redevelopment, and 3/4ths to sell off the land.
New apartment supply doubles in November as Athletes Village goes back on sale
The supply of brand-new apartments released for sale across greater Tokyo doubled in November as a large number of apartments in the Harumi Flag development on Tokyo Bay hit the market.