Renzo Piano to design replacement for Kunio Maekawa-designed building
Tokio Marine Holdings has announced that Italian architect Renzo Piano will be designing the replacement for the Tokyo Marine Nichido Insurance Building in Marunouchi, Tokyo.
No disclosure requirements for natural deaths, MLIT
On October 8, the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) announced the new guidelines for disclosing stigmatized properties to future tenants and buyers. Up until this point, there have been no clear rules on when or what to disclose to a potential occupant, leaving it up to the real estate brokers to follow their own practices. This has been a frequent cause of trouble and confusion.
Luxury apartment sales surge in Tokyo
The luxury condominium market in Tokyo has been surging in the face of the pandemic.
Greater Tokyo apartment prices increase for 17th month
According to REINS, a total of 3,176 second-hand apartments were reported to have sold across greater Tokyo in September, down 4.6% from last year. This is the 3rd month in a row to see a year-on-year drop in transactions.
Modernist city hall priced too cheaply, critics say
The former Yokohama City Hall, designed by famed architect Togo Murano and built in 1959, is still awaiting a final decision regarding its fate with some arguing that it has been priced too low.
Sapporo’s most expensive apartments go on sale
Like other cities across Japan, Sapporo is no stranger to rising home prices. New apartment prices have risen by 37.3% over the past ten years. One new luxury condominium in the city has gone on sale this June with all apartments priced over 200 million Yen.
Office vacancy rate hits 7 year high
The average office vacancy rate across Tokyo’s five business districts of Chiyoda, Chuo, Minato, Shinjuku, and Shibuya reached 6.43% in September, up 0.12 points from the previous month and the highest level seen since June 2014 when it was 6.45%.