The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2020:
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Quick real estate news summary for the week
High-rise residents feeling the stress of the pandemic, central Tokyo apartment prices rise against the odds, while housing starts drop. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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Rosenka land values increase nationwide for 5th year in a row
On July 1, the National Tax Agency announced the rosenka land values for 2020. Land values nationwide saw a 1.6% year-on-year increase, an improvement from the 1.3% increase seen in 2019 and the fifth year in a row to see growth.
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Tokyo approves Kachidoki-Toyomicho high-rise redevelopment committee
On June 30, the Tokyo Metropolitan Government approved the formation of the Toyomi District Town Redevelopment Committee. This committee has been established to create two 189-meter tall apartment towers in the Kachidoki and Toyomicho district on Tokyo Bay.
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Tax Agency considering special measures if land prices drop significantly
The National Tax Agency (NTA) is, according to the Nikkei Shimbun newspaper, working on a plan that could see rosenka land values re-adjusted in the event of a severe drop in market prices.
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Sales in luxury Kamakura condo to start in August
Sales in a high-end condominium in the heart of historic Kamakura City are scheduled to start in late August. The Parkhouse Kamakura is a 5-story luxury condo currently under construction alongside Wakamiya-Oji Avenue which leads up to the Hachimangu Shrine. It is the first condo to have been built within a 5-minute walk of Kamakura Station in the past ten years. This is also the first condominium developed by Mitsubishi to feature their full, underfloor central-air system.
1,102 total views, 18 views today
Quick real estate news summary for the week
Hotels re-open to domestic tourists, a change to condo laws, and a long wait in store for buyers of apartments in the Athlete’s Village. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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First LOOK at land prices since pandemic
On June 19, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) published their latest quarterly LOOK Report and land prices in Japan’s major cities. With a survey point of April 1, this is the first look at land prices since COVID. Overall, 73% of the surveyed locations nationwide saw an increase in land prices, down from a 97% share in the previous quarter.
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New apartment sales drop 82.2% in May
The number of new apartments released for sale across greater Tokyo in May dropped 82.2% from last year to just 393 units. This is the lowest volume since the Real Estate Economic Institute began reporting data in 1973. Showrooms remained closed for most of the month due to the nationwide state of emergency. The contract ratio was 72.3%, up 12.3 points from last year but down 6.6 points from April.
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South Korean company to develop condos in Niseko
South Korean conglomerate Hanwha Group is planning a large-scale condominium project for the winter ski resort town of Niseko in Hokkaido. This would be the first major development by a South Korean company in Niseko.
1,032 total views, 4 views today