Potential 26-story redevelopment of Shuwa Aoyama Residence
The homeowners association of the vintage Shuwa Aoyama Residence condominium near Shibuya Station is considering a potential redevelopment. The 8-story building was built in 1964 and has 77 apartments.
New apartment supply up 21% in August
According to the Real Estate Economic Institute, 1,819 brand-new apartments were released for sale across greater Tokyo in August, up 21.1% from last year. This is the first time in eight months to see a year-on-year increase in supply. The boost in supply was largely attributed to the first round of sales in the Harumi Flag Athlete’s Village, which saw 600 apartments up for sale.
Multi-block redevelopment for Uchisaiwaicho
Three developers will soon embark on what is said to be the biggest post-Olympic redevelopment project in Tokyo. The redevelopment district includes the Imperial Hotel, NTT Hibiya Building, Mizuho Bank Uchisaiwaicho Building, and TEPCO Head Office Building.
Mitsui announces plans for US$10-billion ‘Greater Nihonbashi’ redevelopment
On August 29, Mitsui Fudosan announced major redevelopment plans for a district alongside Nihonbashi river in downtown Tokyo. The project is expected to be completed somewhere between 2030 and 2040 and costs could run as high as 1 trillion Yen (approx. US$10 billion).
Okinawa’s construction costs increase for 8th year in a row
According to Tokyo Shoko Research, the average construction cost in Okinawa Prefecture reached 224,800 Yen per square meter (approx. 193 USD/sq.ft) in 2018, up 0.6% from 2017 and the 8th year in a row to see an increase. Costs are approximately 36% higher than they were in 2010.
Luxury apartments planned for historic art deco building
Real estate developer Mitsui Fudosan Residential is planning a large-scale, luxury apartment project for the former Tokyo Service Center building in central Tokyo.
Shirokane The Sky to go on sale this October
Sales in Shirokane The Sky, a large-scale condo project located in central Tokyo, are scheduled to start this October. Construction has only just started, with apartments expected to be ready to move into from March 2023.