Earthquake insurance premiums set to rise by as much as 30%

From July 2014, earthquake insurance premiums are set to rise by an average of 15.5% across Japan, with some areas seeing a price hike of as much as 30%.

The reason for the increase is due to expectations of another major earthquake that could affect the country in the future. Following the 2011 Tohoku disaster, insurers were left with nearly 1.2 trillion Yen  in claims. This has severely drained the reserve fund. Read more

by Zoe Ward

Prices up in Karuizawa, down in Yuzawa - polarization in Japan's resort market

Japan's resort areas are seeing a dramatic polarization of their property markets. Some areas, such as Karuizawa and Okinawa are seeing prices rise, while other areas are seeing year-on-year falls. Why is this happening?Read more

by Zoe Ward

Malaysian developer to build resort in Okinawa

Kin Town in Okinawa announced on October 18 that they have signed a contract to lease beachfront land to Malaysian property developer Dijiaya Land Development.Read more

by Zoe Ward

800,000 sqm of land with unknown owners in Okinawa

The effects of the battle of Okinawa in 1945 still remain today with countless tracts of land left vacant as ownership records were lost during air raids. Just over 805,000 sqm (199 acres) of land is missing records of ownership as houses were burned down along with the land registers and title documents.

In Teruya, Itoman City, in the southern end of Okinawa, sugarcane farming and residential houses are gradually increasing. However, a small 74 sqm block of land remains vacant as no one knows who the rightful owner is.Read more

by Zoe Ward

RYU:X TOWER - Okinawa's latest high-rise apartments

Three of Japan's major developers, Daiwa, Orix and Daikyo, have announced the details of their latest high-rise condominium project in Naha City, Okinawa. Called "RYU:X TOWER", the two 30 storey buildings will have 676 apartments ranging from one to three bedrooms, and priced from 28 to 69.2 million Yen.

The developers were selected by the city in 2006 to redevelop the site. The first stage of the redevelopment including building offices and hotel facilities. The second stage includes the two residential towers.Read more

by Zoe Ward

Moves to restrict land purchases by foreigners near Camp Schwab

Japan's Minister of Defense, Naoki Tanaka, is pressuring the government to introduce legislation that will restrict the purchase of land by foreign corporations and individuals in the Henoko area in Naga City, Okinawa. Henoko is home to Camp Schwab and is the proposed site of a new US Military air base, which will replace the Futenma Airfield in Naha.Read more

by Zoe Ward

Singaporean investment fund buys hotel in Okinawa

Singaporean investment fund RECAP (Real Estate Capital Asia Partners) has purchased the CSK Tsubogawa Hotel in Naha City, Okinawa, for an undisclosed sum.

The business hotel was scheduled to open in 2009 but the former owner, CSK Holdings, fell into financial difficulties. Although construction was complete, the hotel never opened. The former owner also built an office building on the adjoining site in 2009, which also remains empty.Read more

by Zoe Ward