Fault discovered in Kawasaki apartment building
In what looks to be a disturbing trend, another apartment building under construction has been found to have a serious defect. It was announced on March 31 that a high-rise condominium in Kawasaki City would be partially demolished and rebuilt after cracks were found on concrete pillars on the fourth floor.
Construction had reached the 7th floor when it was discovered that the extra load of the floors was putting too much strain on the 4th floor structural columns causing them to crack and split. Read more
Redevelopment not an option for many apartment buildings
Buying an apartment in an older building may be appealing because you can get more space for your money, but what will happen down the track when the building has reached a point where it needs rebuilding?
According to the Ministry of Land, Infrastructure, Transport and Tourism, only 218 apartment buildings nationwide have either been redeveloped or are in the process of doing so. This represents just 0.5% of the 38,000 buildings built before 1981 - the year when the major change to earthquake-resistant building codes was introduced.
So why are there so few examples? Read more
Developer seeks to cancel contracts in luxury Aoyama apartment building after fault discovered
Mitsubishi Jisho Residence is currently in the process of cancelling sale contracts on apartments in The Parkhouse Grand Minamiaoyama Takagicho after a construction fault was discovered.
Just before Christmas in 2013, an anonymous post on an online discussion board mentioned that there had been some core drilling into the concrete. Drilling holes in concrete to take core samples usually indicates a potentially serious problem. Adding to suspicions, Mitsubishi removed the sales page for the project and removed any mention of the new building from their website a few days later. The building still had 3 apartments left for sale.
The message boards lit up with comments from concerned buyers who were desperate for an official response from Mitsubishi.
The latest revision to earthquake-retrofitting laws and what it means for old apartments
The revision to the law to promote earthquake-resistant repairs to buildings went into effect on November 25. This revision obligates the owners of large-scale buildings such as hotels and other institutions to undertake earthquake-resistant building inspections, of which the results will be made public. It also applies to buildings alongside designated major roads. In the event of a major earthquake, there is a risk that older, unsafe buildings could topple onto roads and block access for emergency service vehicles.
So what does this mean for apartments in ageing buildings?Read more
Should you buy into the Olympics hype for Tokyo's bayside areas?
Don't let the Olympics overshadow your thought process when buying.
Short-sighted buyers who buy under the hype of the Olympics could possibly find themselves in a difficult position after the games have finished.
Since the Olympics announcement last week, the real estate industry has been in a state of excitement as buyers scramble to buy apartments near the action. But the Olympics are still 7 years away and the event only lasts a few weeks. Can this excitement be sustained and what will happen to property prices after the games are over?Read more
Large-scale repairs may become a growing problem for new and old apartments
As many as 14 million people live in 6 million apartments across Japan. In Tokyo's central 3 wards, over 50% of the residents live in apartments. Of those 6 million apartments nationwide, 1 million are in buildings over 30 years old. In 10 years from now, a third of all apartments will be over 30 years old.
The main issue facing ageing buildings is maintenance and large-scale repairs. Read more