Apartment bubble - Why new apartment prices are rising
Recent news reports have suggested that real estate prices in Japan are set to rise and that a property bubble is imminent. But how true are these reports?
The prices of brand new apartments in Japan's major capitals has certainly increased (up 3.0% over 12 months in greater Tokyo in March 2013). However, the main reason for the increase in price is not a property bubble, but an increase in construction costs.Read more
Mori's latest apartments in Shibuya's Kamiyamacho neighbourhood
Luxury property developer Mori Building has completed construction of a stylish residential development in the exclusive Kamiyamacho neighbourhood in Shibuya.
Called 'Case' the six units were designed by Pritzer Prize-winning architectural firm SANAA (Sejima and Nishizawa and Associates).Read more
New apartment supply to return to pre-Lehman levels in 2013
According to the Real Estate Economic Institute, the supply of new apartments offered for sale in greater Tokyo in March 2013 was 5,318 units - 48.4% higher than March 2012. Developers have been pushing forward their sales dates in order to capitalise on an expected last-minute rush before the first consumption tax increase hits consumers in 2014.
The total supply of new apartments in 2013 is expected to exceed 50,000 units for the first time since 2007. In 2012, the supply was down 3.5% from the previous year to 46,754 apartments and the contract rate was 76.7%. The contract rate for March 2013 was 82.1%.Read more
Local residents delay construction in Asakusa
Local residents and parent-teacher-association members in Asakusa, opposed to plans for a new 13-storey condominium, have delayed the construction after protesting outside the building site. As trucks carrying construction equipment neared the site on the morning of March 1, they were met by 30 protestors blocking the entrance. The police soon arrived to assess the situation.Read more
Moe Oshikiri designs second apartment building in Meguro
Japanese magazine model and hosiery designer, Moe Oshikiri, has lent her design skills to a new condominium in Meguro-ku. The complex was developed by Veritas Investment and completed on February 23rd.Read more
Mitsubishi Jisho is bringing luxury back with new 'Grand' series
Mitsubishi Jisho Residence announced on February 18 that they will be introducing a new series of condominiums targeting the high-end of the market. Called "The Parkhouse Grand" series, they will provide an additional level of luxury to their existing "The Parkhouse" series. Read more
Redevelopment planned for Shibuya city office
Moves are underway to rebuild the Shibuya City Office buildings after it was discovered that they would be at risk of falling over in an earthquake that produced a shindo level of upper-6 (read about the Japanese seismic intensity scale here).
At a press conference held on February 12, Shibuya ward mayor, Toshitake Kuwahara, announced that they hope to decide on a budget for the project during the 2014 financial year. The buildings are currently below the maximum allowable building size for the site, so the local council hopes that the availability of additional space will help to reduce their own redevelopment costs.Read more