Average age of an apartment sold in Tokyo in 2016 increases from previous year

According to REINS the average age of a second-hand apartment sold in greater Tokyo in 2016 was 20.26 years, up 0.13 years from 2015. The average age of an apartment listed for sale during the year was 22.32 years, up 0.27 years from 2015. Apartments less than 5 years old made up 9.5% of all second-hand apartment sales in 2016, up 0.8 points from 2015. Apartments over 30 years old accounted for 24.3% of all sales, showing no change from the previous year.Read more

by Zoe Ward

New apartments in Tokyo to be completed in 2017

The following is a selection of condominiums due for completion in central Tokyo in 2017. Proud Roppongi and Royal Season’s Akasaka are the only buildings where some of the larger apartments come with two bathrooms. Only one building has apartments over 200 sqm (Proud Roppongi).

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by Zoe Ward

Town to buy 300-yr old house for 38 million Yen

Matsuzaki Town in Shizuoka’s Izu Peninsula will be purchasing the 300-year old former Yoda Residence for 38.4 million Yen (approx. 337,000 USD). The town’s budget for acquisition and preservation of the property is expected to total 48.7 million Yen, which includes 10 million Yen to acquire the rights to a hot spring source.

The property includes the heritage-listed 300+ year old main house and warehouse. The Yoda family has been a landowner for many generations and found success in the silk industry during the Edo period. At one time the house was the family home of Yoda Benzo (1853-1925), one of Hokkaido’s early pioneers and founding settlers.Read more

by Zoe Ward

Short-term accommodation hosts to be hit with 180 day limit

The Japanese government is currently in the process of introducing a new law to govern the rapidly growing market of short-term letting of individual homes and apartments, and will be imposing strict rules on hosts. The maximum number of days that a property can be let out is expected to be capped at 180 days a year, while maximum fines will be lifted from 30,000 Yen to 1,000,000 Yen for hosts found to be violating the new law.

Accommodation listing sites may be obligated to impose checks on hosts and remove listings once a property has reached the 180 day limit. Local governments will also have the power to reduce the annual limit even further, even to 0 days a year.Read more

by Zoe Ward

Nomura to lead redevelopment project in Akasaka 7 Chome

According to an investor relations report by Nomura Real Estate Holdings, the developer will be participating in the Akasaka 7 Chome 2 District Redevelopment in central Tokyo.

Nomura will receive approximately 200+ apartments as part of the deal. The project is still in the planning stages, but construction could start sometime in 2020 with completion sometime between 2023~2025. These dates have been pushed back from earlier estimates and it is possible they could be delayed further. News of the project first surfaced back in mid-2014 when landowners formed a redevelopment committee.Read more

by Zoe Ward

Tokyo Apartment Sales in February 2017

The following is a selection of apartments that were sold in central Tokyo during the month of February 2017:Read more

by Zoe Ward

Otemachi’s first serviced apartments to open this month

Otemachi, one of Japan’s top business districts, will see the opening of its very first residences at the end of this month. Until now, there have been no apartments or residential options in the Otemachi and Marunouchi districts.

Ascott Marunouchi Tokyo is located on the top 9 floors of the recently completed Otemachi Park Building. The 130 serviced apartments range in size from 38 ~ 163 sqm and are suitable for monthly stays. 121 of the apartments are studios and 1-Bedroom units, 8 are 2-Bedroom units and 1 apartment is a 3-Bedroom unit.Read more

by Zoe Ward