Fire safety for Japan’s high-rise apartment buildings
According to the Tokyo Fire Department, 80% of the 576 high-rise (11 storeys and higher) apartment buildings inspected in 2016 were issued orders for violating the Fire Services Act. The majority of the infractions were were for not designating a fire safety supervisor for fire drills, and not conducting regular checks of fire-fighting equipment.
There are 9,288 high-rise apartment buildings in the Tokyo metropolitan area. In 2016, there were 153 fires reported and two deaths.
Under Japan’s Fire Services Act, buildings over 31 meters tall are considered high-rises and must meet various fire safety regulations. Fire truck ladders can only reach as high 31 meters (which is about the height of the 11th floor), so apartments on the 11th floor and above are obligated to have sprinkler systems, unless other requirements are met (eg. an open elevator hall, more than two emergency exits, non-flammable materials used on apartment interiors and so on). These floors must also have fire walls for every 100 ~ 500 square meters.Read more
Tokyo apartment asking prices in May 2017
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment across greater Tokyo was 35,720,000 Yen in May, up 0.3% from the previous month and up 3.5% from last year. The average building age was 22.8 years.
In the Tokyo metropolitan area, the average asking price was 48,220,000 Yen, down 0.4% from the previous month but up 1.2% from last year. The average building age was 22.3 years.
In Tokyo’s 23 wards, the average asking price was 53,170,000 Yen, down 0.1% from the previous month but up 0.9% from last year. The average building age was 22.2 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 73,360,000 Yen, up 0.5% from the previous month and up 2.7% from last year. Thea average building age was 20.0 years.
Average apartment rent in May 2017
According to Tokyo Kantei, the average monthly rent of a condominium-type apartment across greater Tokyo in May 2017 was 2,633 Yen/sqm, down 0.8% from the previous month and down 1.1% from last year. The average apartment size was 59.94 sqm and the average building age was 20.2 years.
In the Tokyo metropolitan area, the average monthly rent was 3,140 Yen/sqm, down 0.6% from the previous month and down 0.8% from last year. The average apartment size was 57.28 sqm and the average building age was 18.3 years.
In Tokyo’s 23 wards, the average monthly rent was 3,299 Yen/sqm, down 0.7% from the previous month but up 0.2% from last year. The average apartment size was 56.73 sqm and the average building age was 17.6 years.
Three arrested for fraudulent sale of land in Minamiazabu
Three men and women have been arrested for the alleged fraudulent sale of a 300 square meter block of land in Tokyo’s upscale Minamiazabu neighbourhood.
According to the police department, the suspects forged the identity of the landowner and collected a 240 million Yen (approx. 2.15 million USD) payment from a buyer in early 2014. Depending on the location, a block of land of that size in Minamiazabu could have had a potential market value of 350 million Yen and upwards, and certainly a higher value today.Read more
New apartment supply in Tokyo hits 25 year low in May
According to the Real Estate Economic Institute, 2,603 new apartments were released for sale across greater Tokyo in May, down 5.0% from the previous month and down 13.3% from last year. This is the lowest supply for the month of May seen since 1992 when 1,617 apartments were released for sale.
1,880 apartments were sold, resulting in a contract ratio of 72.2%, up 5.9 points from the previous month and up 1.3 points from last year.
Unsold inventory as at the end of May was 6,422 units, down 227 units from the previous month but up 385 units from May 2016.
The average price of a new apartment across greater Tokyo was 59,810,000 Yen, up 1.1% from the previous month and up 5.1% from last year. The average price per square meter was 861,000 Yen, up 0.6% from the previous month and up 4.6% from last year.
Historic Atami Villa sold to developer
On June 13 Mori Trust announced that they have acquired the historic holiday home of Taneji Yamazaki (1893-1983) in Atami City for an undisclosed price. Yamazaki was a successful businessman, founding several trading companies, including one which is now SMBC Friend Securities. In 1966 he founded the Yamatane Museum of Art in Tokyo, which was the first museum to feature only Japanese paintings.
The Yamatane-ryo was built in 1936. It is located just north of Kinomiya Station and about a 15 minute drive from Atami Station. It is a peaceful hillside neighbourhood with a history dating back over 1300 years. The 8,300 sqm (89,000 sq ft) property has views of Atami Bay, Hashima Island as well as the numerous firework festivals held over the bay throughout the year. Although the purchase price was not made public, similar properties in the Atami area are extremely rare and can fetch upwards of 1 billion Yen (approx. 9 million USD+).Read more
Over 22,000 public housing units across Japan contained asbestos
A survey by public broadcaster NHK has found that there were over 22,000 apartments in public housing complexes across Japan that were built with materials containing hazardous asbestos.
From the findings, a professor from the Tokyo Institute of Technology has suggested that there is a possibility that as many as 230,000 former residents could have inhaled asbestos fibers while living in these apartments. While this does not mean that every former resident will suffer from health problems, the professor did point out that further information is needed from the national and local governments.
The investigation was carried out by NHK and the Japan Association of Mesothelioma and Asbestos Related Disease Victims and their Families. According to the results, the 22,000 apartments included 8,700 units in public housing complexes that once contained spray-on asbestos, as well as units in city housing and UR housing where minuscule amounts of asbestos were used in spray-on materials. They did not have access to data on public housing complexes that have already been demolished, so the number could be higher than estimated.Read more