Inheritance tax changes
The Japanese Government's Select Committee on the Taxation System (seifu-zeiseichosakai) announced a new policy to reduce the fixed inheritance deduction from 50,000,000 JPY+10,000,000 JPY per inheritor to 30,000,000 JPY+6,000,000 JPY per inheritor. The announcement was made at a general assembly meeting on December 13th.Read more
Cattle Quarantine Station Office scheduled for demolition
A decision has been made to demolish the former Ministry of Agriculture's livestock quarantine office in Tsuruga Bay, Fukui Prefecture.
Dating from 1916 (Taisho period), the western-style building has fallen into severe disrepair. After part of the ceiling collapsed last month, the owners have applied to the Prefecture to have the building demolished.Read more
Cross Air Tower - 42 storey tower for Meguro-ku
Size range: 30.07 – 161.68sqm (320 – 1740 sqft)
Average Price: 1,164,000 Yen/sqm (1352 USD/sqft)
As part of the redevelopment of the Ohashi area, Cross Air Tower will incorporate both commercial and residential space. The 9th floor will have a public library, a Ward office for Meguro-ku and a health & welfare center.Read more
The Top 10 Most Expensive Apartments for Sale in Tokyo
The following is a list of the top 10 most expensive apartments for sale in Tokyo (as of December, 2010):Read more
Homat Capital: Price history over the years
Apartments in this building have doubled in value since it was built in 1980. The average price when this apartment was first built in 1980 was 515,000 JPY/sqm (575 USD/sqft). In the midst of the financial bubble, the average price in 1991 was 5,750,000 JPY/sqm (6,435 USD/sqft) - a price increase of 1117% !Read more
New earthquake retrofitting law to be introduced in 2011
In the event of an earthquake in Tokyo the major roads will be used by emergency vehicles. To reduce the risk of buildings collapsing onto these major roads, regulations to enforce building owners to conduct earthquake retrofitting are being put in place.Read more
Strong demand for Nomura Proud Series of apartments
Nomura Real Estate Development's "Proud Series" of condominiums have seen strong sales and same-day sellouts for many of their buildings.
At the end of November, Proud City Akabane in Tokyo's Kita-ku had received purchase applications on all 214 units released for sale in the initial offering. The second offering will begin in early January. The apartment building is still under construction and completion is expected by the beginning of November, 2011. There are a total of 284 units priced from 41.3 - 108.8 million JPY and sized between 58.92 - 100.32 sqm.Read more