Demolition underway on Omotesando public housing complex
Demolition of the old Aoyama Kitamachi Apaato housing complex in Omotesando is underway. Asbestos removal from four buildings is currently being carried out. Asbestos sheeting and spray-on insulation was used in some of the buildings’ rooftop waterproofing, plumbing insulation, and chimneys.
The city-owned public housing estate will soon be replaced with high-rise residential, aged care facilities and retail space.
The Tokyo Metropolitan Government has chosen six developers to partake in the project, including Tokyo Tatemono, Mitsui Fudosan, Kajima Corporation and Maeda Corporation.Read more
Mitsubishi enters apartment building renovation and resale market
Mitsubishi Jisho Residence is entering the building renovation and resale market with their first project in Shirokane now on sale. With a severe shortage of apartment development sites, high land prices and construction costs, developers have been turning to their attention to the resale market. Rental apartment buildings are being bought up by major developers, tenants slowly evicted, and the vacant and renovated apartments offered up for sale individually on the resale market.Read more
New luxury apartment building for Omotesando in 2019
Construction has started on a new luxury apartment building in Omotesando. The Minato-ku Minami Aoyama 4 Chome Project is a 7-story residential building located across the street from the Aoyama Cemetery and next-door to Oji Green Hill Apartments.
The developer, Mitsubishi Jisho Residence, recently completed a 7-story condominium called The Parkhouse Gran Minami Aoyama just 300 meters from this current project site. The apartments went on sale in mid-2015 and sold out on the first day of sales with an average of 9.6 buyers for each apartment. Current resale prices in this building range from 2.4 ~ 3.95 million Yen per square meter (approx. 1,980 ~ 3,260 USD/sq ft). It is possible that this new project could see similar pricing.Read more
Potential redevelopment for area near Sengaku-ji Temple
An area just east of Sengaku-ji Temple in Takanawa, Tokyo, has entered the very early stages of discussions for a possible future redevelopment. The area covers 11,000 square meters and currently includes a number of low-rise houses, office and apartment buildings. It also includes Sengaku-ji’s Middle Gate and temple road.
Sumitomo Realty is taking part in planning and preparation. A town planning decision is eyed for 2018 and construction could start by 2020.Read more
Tokyo Apartment Sales in January 2017
The following is a selection of apartments that were sold in central Tokyo during the month of January 2017:Read more
Toranomon Area Property Guide - 2017
Toranomon is possibly the most exciting area in Tokyo at the moment for real estate development and activity. A lot of offshore buyers are still unfamiliar with the Toranomon area, despite it being right next door to Roppongi, but we are expecting this to change in the next 5 or so years as major projects are completed.
Over the past 10 years the resident population has increased by 48%. The average household size in 2017 is 1.8 persons, up from 1.68 in 2007. New residential developments will see the population rise further in the coming years as more people can move to the neighborhood.Read more