Korea Town leads to rise in land values
The South Korean pop culture boom in Shinjuku's "Korea Town" has led to a large increase in surrounding land values.
According to the 2012 Koji-Chika assessed land values, the Shinokubo area in Shinjuku which has a large South Korean population has seen land values increase by 1.7% over the past year. While the nationwide residential land values have fallen by 2.3% and 3.1% in business districts, Korea Town has managed to escape from the declining land values.Read more
West Japan also worried about foreign capital buying up forestry
In February, two men wearing sweaters visited the Uda Forestry Cooperation Uda City, Nara Prefecture. The men said they were managers of an Osaka-based business and spoke with the Co-op chairman for about 30 minutes. The chairman did not take long to determine that they were only after land with a water source and told them in no uncertain terms that he had no sellers for them. The two men promptly left.
Uda City has 18,330 hectares of forest. It is the source of the drainage system for Osaka's Yodogawa River and the majority of the forest has restrictions over timber felling. The chairman said that although there are members of the co-op who want to let go of their land, he worries that troubles may arise if forestry falls into the hands of foreign capital.Read more
Foreign buyers pipped at the post on land purchases in Hokkaido
Hokkaido Prefecture will be introducing support measures that will provide funding to local cities, towns and villages so that they may purchase tracts of land that foreign investors are planning to buy.
The measures are being introduced in response to growing concern over acquisition of forestry and water sources by foreign investors with unclear motives.Read more
Kobe Airport land not selling
Blocks of commercial land on the man-made Kobe Airport Island are not selling as well as expected. In 2011, not a single parcel of land was sold.
Construction of the island was financed through the issuance of municipal bonds, and the city planned to repay the bonds by selling off blocks of land to various enterprises.Read more
Singapore investor makes headlines after buying forestry in Gunma
An investor from Singapore has been the subject of an article in the Yomiuri newspaper after purchasing 44 hectares of forestry in Gunma Prefecture. The land, which is near the source of the Agatsuma River in Tsumagoi Village, was purchased by the investor in September 2011.
An employee from the Tokyo-based real estate agency that brokered the sale said the purchase formed part of the buyer's overall investment plan, but there was no indication that the buyer was after a water source.Read more
Kanagawa Pref. to sell site of planned governor's residence
Kanagawa Prefectural Governor Yuji Kuroiwa announced that the planned construction of the official governor's residence has been canceled and the land will be put up for sale.
In the event of a disaster, the prefecture wanted the governor to live within walking distance to the prefectural office. However, the prefecture's worsening financial conditions have forced them to cut back on some expenditures.Read more