Tokyo apartment contract ratio drops below 70%
According to the Real Estate Economic Institute, the number of new apartments released for sale in September in greater Tokyo (Tokyo, Kanagawa, Saitama and Chiba) dropped 9.3% from last year to 3,366 units.
The contract ratio for the month was 69.3%. This was the first time in 13 months where the ratio fell below 70%. A ratio below 70% is considered to be a sign of a slump in demand.Read more
An apartment designed with Roomba in mind
The modelroom for Mitsubishi Jisho Residence's latest condominium 'The Parkhouse Shibuya Mitake' has been specially designed in collaboration with the Japanese sales representatives for vacuuming robot Roomba.Read more
Nishiazabu condominium to offer Mercedes Benz car sharing
On September 4, Mitsubishi Jisho Residence launched the sales gallery for The Parkhouse Nishiazabu Residence condominium. The developer is promoting, in collaboration with Mercedes Benz, a new service for residents of the building called "Premium Owner's Support." This includes car sharing and chauffeur services and is said to be a first in the industry.Read more
Consumption Tax Increase: How will it affect buying apartments still under construction?
With the planned increase in consumption tax receiving approval by Parliament last Friday, buyers of as-yet uncompleted apartments may be hit with the higher tax.
According to the tax plan agreed to on August 10, the consumption tax will increase to 8% from April 1, 2014, and 10% from October 1, 2015.Read more
Ark Hills Sengokuyama Mori Tower reaches completion
Construction of Ark Hills Sengokuyama Mori Tower, a combined residential and office tower in the Roppongi/Toranomon area, was completed on August 7.
The two hectare site has a 47-storey mixed residential and office tower, along with 8-storey low-rise apartments. The development took a total of 24 years, when including the long process of negotiating with local residents.
In the high-rise tower, offices are located on floors 25 to 47, while residences are on floors 3 to 24. Currently, 55% of the commercial tenants have been confirmed. They are predominantly foreign law offices and IT companies.Read more
Same day sell-out in Proud Funabashi
Sales of new apartments in Nomura Real Estate and Mitsubishi Corporation's "Proud Funabashi" condominium development in Funabashi City, Chiba, have been surprisingly strong with all of the units in the 2nd stage selling out on the same day.Read more
Terrace Shibuya Mitake sold out 7 months prior to completion
Although completion is not expected until February 2013, the 128 apartments available for purchase in Terrace Shibuya Mitake have now been sold*.
The new apartment building is in a prime location just one minute from Shibuya station. New and near-new apartments this close to Shibuya station are very limited in number.
There are a total of 196 apartments in the 17-storey building, of which 68 will be given to original landholders from the Mitake Building which once stood on the site. The remaining 128 were sold by the developers.Read more