Ultra-luxury hotel for Torch Tower

On November 8, developers Mitsubishi Estate and Tokyo Century Corporation announced that Dorchester Collection will be operating an ultra-luxury hotel in the 390-meter tall Torch Tower near Tokyo Station. The hotelier is owned by the Brunei Investment Agency and operates The Beverly Hills Hotel, Plaza Athénée in Paris, and The Dorchester in London, to name a few.

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New apartment price drops 5.5% in first half of 2022

According to the Real Estate Economic Institute, the average price of a brand-new apartment released for sale across greater Tokyo in the first half of 2022 (April – September) was 63,330,000 Yen, down 5.5% from the first half of 2021 and the first decrease in four years. This is due to fewer high-priced luxury condos being supplied compared to this time last year.

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