How much will distance from the station affect rent?

The walking distance from the nearest train station is a major factor when searching for an apartment or house in Japan. The closer to the station, the higher the rent. So, how much does rent change as you look at places that are 5, 10 and 15 minutes away?

The following is a translation of an interview between a writer and real estate agent that appeared on the MyNavi news site on January 3, 2013:

-- Where I live the difference in rent is approximately 10,000 Yen/month between a property 5 minutes from the station and one that is 10 minutes away. Are other areas the same?

Although it will depend on the area, that would be the approximate difference in rent that you will see. For properties over a 10 minute walk, the rent will be even lower. As for one-room studio apartments, there is almost a 30% difference in rent between properties that are 5 minutes and 10 minutes away.Read more

by Zoe Ward

Can I hang Christmas lights on my balcony?

Apartment dwellers may want to get into the Christmas spirit by hanging lights on their balcony, but they should be aware that their building's management association may have rules that prescribe if and how they can hang lights.

While you have exclusive ownership of the inside of your apartment, your balcony is technically part of the building's public space with usage rights granted to the apartment owner. As such, owners and tenants must follow the rules for the use of balconies which are set out in the management agreement.Read more

by Zoe Ward

Tokyo is the most expensive city in the world to rent a 2-bedroom apartment

The 500.38sqm (5384 sqft) 1-bedroom penthouse in La Tour Daikanyama has an asking rent of 5,310,000 Yen/month and is the most expensive rental apartment in Tokyo.

According to a survey by ECA International, Tokyo is the most expensive city in the world to rent a 2-bedroom apartment, and the 2nd most expensive city in the world for 3-bedroom apartments.

Tokyo has also seen the biggest fall in rents in Asia. This continues the trend of year-on-year rental price decreases witnessed there since the onset of the global financial crisis in 2008.

Lee Quane, Regional Director of ECA International Asia explains that "assignee numbers in Tokyo are still lower than before the financial crisis". This means there is less demand for rental property in expatriate areas, and rents in those areas have steadily fallen since then, dropping almost 5% in Yen terms. Further falls in international assignee numbers following the tsunami and subsequent nuclear disaster have continued to contribute to this trend.Read more

by Zoe Ward

Growing concern over Tokyo's shortage of emergency evacuation centers

  • 1.3 million residents will be turned away
  • 2.39 million residents will lose their homes
  • 4.48 million residents will be stranded until transportation services resume

Tokyo City is currently unable to provide enough emergency accommodation for the temporary refugees that would not be able to return home in the event of a magnitude 7 earthquake hitting Tokyo.Read more

by Zoe Ward

SUUMO real estate site opens cafe in Ginza

One of Japan's major real estate listing sites, SUUMO (http://suumo.jp), has recently opened up a promotional cafe in Ginza.

The cafe shares the space of the R25 Cafe on the 1st floor of the Recruit Ginza 7 Chome Building (see google map here). They are selling various sweets and drinks featuring the Suumo character (a green alien) including hot cocoa, muffins and cider. Prices range from 330 - 500 Yen.Read more

by Zoe Ward

Tokyo's population declines as residents continue to move to Western Japan

Tokyo's population has recently seen a net decrease as residents fled the city following the March 11 Tohoku Disaster and the nuclear emergency.

The hiring season and university enrollment schedule in Spring/Summer usually sees the Tokyo population rise. However, the statistics for June and July showed that the number of people who moved out of the Tokyo metropolitan area exceeded the number who moved into the area, causing the total population to decrease by 4,000 in greater Tokyo, and 6,400 in Tokyo alone. This is despite the thousands of new residents moving in from the Tohoku region.Read more

by Zoe Ward

Tokyo Earthquake Damage Risk Ratings

The Bureau of Urban Development in the Tokyo Metropolitan Government conducts an earthquake assessment every 5 years, with the latest carried out in 2008. The investigation covers 5,073 neighborhoods in Tokyo. They provide a rating for the following categories:

  • Vulnerability to Building Collapse (Ground liquefaction, Construction methods, Age of buildings etc)
  • Fire Hazard Rating (Spreading of fires, Fireproof buildings, firebreaks such as parks etc)
  • Overall Hazard RatingRead more

by Zoe Ward