Okinawa apartment prices up 108% over past 12 years
According to the Ryugin Research Institute, the average price of a 70 sqm (753 sq.ft) second-hand apartment in Okinawa as of October 2020 was 2.1 times higher than it was back in 2008.
Quick real estate news summary for the week
Tokyo’s office vacancy rate hits 4%, cash bonus for anyone who moves near the Fukushima nuclear plant, and apartment rents drop in Tokyo and Yokohama. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
More people living in flood zones
The number of people living in flood zones across Japan has increased by 6.05% between 1995 and 2015, according to a survey by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT). The country’s total population over that same span increased by just 1.21%. Even prefectures experiencing depopulation saw growth in the number of residents living in flood zones.
1930s building in Shimbashi to be converted into share offices
An 88-year old heritage-listed building in Shimbashi is being converted by construction giant Takenaka Corporation into a share office for start-ups.
Tokyo apartment discounts in November
The median discount on an existing apartment sold in Tokyo’s 23 wards was just 1.04% in November. This is a 0.7 point drop from November 2019. 43% of transactions sold at their full asking price, up from a 31% share in 2019.
November apartment transactions reach 30-year high
According to REINS, a total of 3,620 second-hand apartments were reported to have sold across greater Tokyo in November, up 14.0% from last year and the highest number seen for the month of November since REINS began recording data in May 1990. Detached home sales set the same 30-year record in November with 1,303 reported transactions, up 23.6% from last year and the 5th month in a row to see a year-on-year increase.
Quick real estate news summary for the week
Hiramatsu to open new hotel in Karuizawa, 1 million Yen on offer if you relocate to the countryside, and real estate companies expect pandemic-related conditions to continue for next few years. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.