Sales in luxury Kamakura condo to start in August

Sales in a high-end condominium in the heart of historic Kamakura City are scheduled to start in late August. The Parkhouse Kamakura is a 5-story luxury condo currently under construction alongside Wakamiya-Oji Avenue which leads up to the Hachimangu Shrine. It is the first condo to have been built within a 5-minute walk of Kamakura Station in the past ten years. This is also the first condominium developed by Mitsubishi to feature their full, underfloor central-air system.

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2020 Office supply in Tokyo reaches 2nd highest level in history

According to a report published by Mori Building on May 25, a total of 1.87 million square meters (approx. 20 million sq.ft) of new office space is expected to be supplied in Tokyo’s 23 wards in 2020. This is the second-highest level seen since the company began collecting data in 1987. Despite the large supply, most of the new office space is already leased.

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New apartment sales in Tokyo reach 47-year low

According to the Real Estate Economic Institute, the number of new apartments released for sale across greater Tokyo in April reached the lowest level seen since the Institute began collecting data in 1973. As developers shuttered salesrooms following the declaration of the state of emergency in mid-April, new home sales have stalled. Just 686 apartments were released for sale, down 68.0% from the previous month and down 51.7% from last year. A new record low is expected in May with the Institute forecasting a supply of 500 apartments.

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Sales in Harumi Flag on hold

On March 30, Jiji Press reported that off-the-plan sales in Harumi Flag have been temporarily suspended and the sales showroom closed. The large-scale condo complex on a manmade island in Tokyo Bay was initially planned to be used as the Athletes Village for the 2020 Olympics, but the postponement of the games has thrown a wrench into the scheduling of the post-Olympic refurbishment of the apartments. 

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