Carparking as an economic indicator
The Nikkei's Sumai section has an interesting table showing the change in the ratio of carparks to apartments in new buildings across greater Tokyo.
Same day sell-out in Terrace Shibuya Mitake
All apartments made available for sale during the first round of sales for brand new condominium "Terrace Shibuya Mitake" have sold out on the same day.
On March 10, the 90 apartments listed for sale received 197 applications. The average number of applications to apartments was 2.18, and the highest was 13 on one apartment.
Apartments ranged in price from 37.8 to 184 million Yen and the average price is 1,381,000 Yen/sqm (1565 USD/sqft). The average age of the applicants was 49.5 years and their average income was 19 million Yen per year (232,000 USD).Read more
Waterras Tower Residence Sold Out
Apartments in the brand new, luxury high-rise condominium "Waterras Tower Residence" have now been completely sold out, just weeks before the building is scheduled to be completed.
The 41-storey mixed-use building has a total of 333 apartments of which 253 were made available for sale. Prices ranged from 55.8 to 300 million Yen with the average apartment priced at 1,225,000 Yen/sqm. Apartments range in size from 45.14 ~ 146.93 sqm (485 ~ 1581 sqft). Approximately 30% of the apartments were priced over 100 million Yen.Read more
Large-scale redevelopment for Shirokane 1 Chome
A large redevelopment is planned for a 17,000sqm block in Shirokane 1 Chome area in Minato-ku. The development will include approximately 1,200 residential apartments. There will be three buildings of varying heights, with the highest being a 156m tall tower with 43 floors. The floorspace of the buildings will total 133,700 sqm (1,438,612 sqft). Construction is scheduled to begin in 2015 (it was originally planned for 2014) and the project should be completed by 2019.Read more
Chateau Mita to be demolished
The Chateau Mita apartment building in Mita, Minato-ku, is going to be demolished in March. The reason for demolition and reconstruction is because the 48 year old building was deteriorating. Reconstruction negotiations with the residents began in 2004.
During the 1960s and 1970s, several "Chateau" apartments were built in Tokyo. They were all developed by Kurokawa Kensetsu. Many of the "Chateau" series of vintage apartments are valued higher than other lesser apartments of the same age.Read more
Mitsui starts construction of 53-storey residential tower in Tsukishima
Mitsui Fudosan announced that they have started construction of the Tsukishima 1 Chome 3, 4, 5 Redevelopment Project on February 20, 2012. The large complex will include a 53-storey, 703 unit residential tower and a smaller 12-storey, 44 unit residence. The name of the condominium is "Capital Gate Place".
Shimizu Corporation is in charge of construction and completion is scheduled for summer of 2015. The high-rise tower will be constructed using vibration-control (seishin) earthquake-resistant construction with dampers. There will also be backup generators that can supply necessary power for up to three days in the event of a power shortage.Read more