Details of Akasaka’s 44-storey condominium announced
Details on Park Court Akasaka Hinokicho The Tower (previously the Akasaka 9 Chome Tower Project) have just been released. The 170m tall, 44-storey condominium, which was designed by Nikken and famed architect Kengo Kuma, is currently under construction on the northern side of Tokyo Midtown.
The high-rise will contain 322 apartments, of which just 163 (50%) will be available for sale. The remainder will go to landholders and participants of the development. The two and three-bedroom apartments will range in size from 57.61 ~ 203.96 sqm (620 ~ 2,195 sq ft). Layouts are cleverly designed and do not contain any windowless bedrooms that you may find in cheaper developments. The largest apartment, a 203 sqm penthouse, includes two full bathrooms, while the rest of the apartments have 1 bathroom.
Sales will begin in September October November 2015 . Prices have yet to be announced, but with apartments in other recent high-rises in Akasaka selling for around 2,000,000 Yen/sqm, it is likely that we will see comparative pricing in this new project. There have been rumours that apartments could be priced as high as 3,000,000 Yen/sqm.Read more
Meguro Station high-rise residential development draws huge interest
The large redevelopment on the eastern side of Meguro Station is garnering a large amount of attention with the sales office overwhelmed with inquiries. Tours of the sales showroom are now booked solid for the next two months. The sales office received 18,000 requests for property brochures, three times the number they had anticipated. Many of the inquiries were from prospective buyers in their 30s and 40s. A third of the inquiries were from residents in Shinagawa, Meguro and Minato-ku.
The model room opened in early April, and the first round of sales is scheduled to start in early June. Apartments will be offered for sale in stages, with almost 40% of the apartments being offered in the first round. Interested buyers will be required to submit applications during the sales periods, with lucky buyers selected via a lottery-type system.
The 80 billion Yen project includes two residential towers containing 940 apartments and a 27-storey office tower. Tokyo Tatemono, Daiichi Life Insurance, Taisei Kensetsu and Takenaka Corporation are the four developers.Read more
Construction to start on Shibuya Miyashitacho Project
Miyashitacho Realty, a corporation funded by Tokyu Corporation, Tokyu Construction, Taisei Corporation and Sapporo Real Estate, will officially begin construction on the Shibuya Miyashitacho Project on March 30.
The 5,000 sqm site is owned by the Tokyo Metropolitan Government and forms part of their ‘Urban Regeneration Step Up Project’. It was originally the site of the the Miyashitacho Apartments. There were originally three apartment buildings, with demolition of the last building fronting Meiji Dori starting recently.Read more
Construction starts on Shin-Hibiya Project
Mitsui Fudosan started construction on the Shin-Hibiya Project on March 23. The 192m tall, 35-storey office tower is expected to be completed by the end of January 2018. London-based architectural firm Hopkins Architects are in charge of the master plan.
The project will help to enhance the area's image as centre for international business and the arts. The retail component will include Toho Cinemas, and will be the largest cinema complex in central Tokyo. This area has a long history as a theatre district. Toho, the producer of the Godzilla franchise, was founded nearby.Read more
New apartment prices in Tokyo at highest level in over 5 years
According to the Real Estate Economic Institute, 2,598 brand new apartments were released for sale in greater Tokyo in February, up 54.7% from the previous month but down 2.0% from last year. This is the lowest level seen for the month of February since 2009.
1,935 apartments were sold, making the contract rate 74.5%, down 0.4 points from the previous month and down 6.1 points from last year.
The average new apartment price was 56,960,000 Yen, up 27.9% from the previous month and up 12.5% from last year. The average price per square meter was 812,000 Yen, up 27.1% from the previous month and up 14.7% from last year.
699 apartments in high-rise buildings (over 20 storeys) were offered for sale, up 78.3% from last year. The contract rate was 87.3%, down 0.5 points from last year.Read more
Apartments to be built in historic Kyoto Shrine grounds
Shimogamo Shrine in Kyoto’s Sakyo Ward announced that several condominiums will be built on part of the shrine’s grounds.
The shrine’s main buildings are rebuilt every 21 years. To help raise the 3 billion Yen required to rebuild in 2015, part of the shrine’s land will be leased to a private developer. The shrine has already raised 1 billion Yen and will receive around 800 million Yen in national grants.
A 9,650 sqm parcel of land about 600 meters south of the main shrine will be leased to a private developer under a 50-year term with an annual land rent of 80 million Yen. At the end of the lease, the buildings will be demolished and the land will be returned to the Shrine. The land is currently used as a car park and training hall.Read more