Japan heritage site sells at auction for 35 million Yen
The historic Goto Textile factory in Gunma Prefecture was up for public foreclosure auction earlier this year and appears to have found a buyer.
Myths about Tokyo’s residential real estate market during the pandemic
One of the most frequently asked questions we have been receiving over the past 17-ish months has been about the pandemic and its effects on the residential property market here in Japan and in Tokyo. Let’s take a look at some of the arguments we hear.
Commercial real estate activity set to increase further this year
Japan’s top real estate companies are expanding sales of properties to investors. Mitsui Fudosan is expecting a 42% increase in operating profit for the year ending March 2022, with sales to investors expecting to top 111 billion Yen (approx. US$1 billion), while Mitsubishi Estate is anticipating a 25% profit increase.
More news on the redevelopment project surrounding the Imperial Hotel
Additional details on the Uchisaiwaicho 1 Chome District Redevelopment have been released. The 6.5-hectare site is across the street from Hibiya Park and includes the Imperial Hotel.
Quick real estate news summary for the week
Another real estate developer to offer vaccines to tenants, Digital Agency moves to Kioi Tower, and Tokyo's office vacancy rate exceeds 6%. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Tokyo's population growth highest in nation
According to the latest national census survey, Japan’s population shrank by 868,000 over the five years to 2020. This is the second time in a row to record a decline. The country’s population as of October 1, 2020, was 126,226,568. The decline of 0.7% is a slight improvement from the 0.8% decline reported in 2015.
Tokyo Apartment Sales in June 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2021: