Daikanyama retail sells for 1.8 billion Yen
A low-rise retail and office building just behind Daikanyama Station sold for 1.877 billion Yen (approx. 14.3 million USD). The seller, Starhill Global REIT, entered into a sale agreement in December with an undisclosed buyer.
Tokyo Apartment Sales in December 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of December 2022:
Home loan interest rates to increase in January
As anticipated, banks have increased the rates on 10-year fixed-rate mortgages this month. This is in response to the Bank of Japan expanding the trade band for 10-year government bond yields to a range of -0.5% and 0.5%.
Our Japan Property Market Report for 2022
2022 was a year of turmoil for markets, with interest rate rises, high inflation, and ongoing supply chain disruptions. Japan did not suffer to the same extent, with interest rates and inflation remaining low. The stable domestic conditions favored the real estate market with prices continuing to rise throughout the year.
Please feel free to view or download the PDF of our annual Japan Property Market Report, linked below.
New Year Holidays
Please be advised that our office will be closed for the New Year holiday from tomorrow, December 24, and will re-open on Thursday, January 5, 2023. We wish you a happy holiday and look forward to helping with your real estate needs in 2023.
National government wants to halt Tokyo's population growth by 2027
In an attempt to reverse the overconcentration of the population in the greater Tokyo region, the national government wants 10,000 residents to move to the countryside each year, a lofty goal for a megalopolis that saw a net inflow of over 80,000 residents in 2021.