Office vacancy rates in September - Miki Shoji

PMO Kanda TsukasamachiAccording to Miki Shoji's office report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.90% in September, down 0.26 points from last month and down 1 point from last year. This is the third month in a row where rates have fallen. It is the first time since November 2009 that vacancy rates have been in the 7% range.

The vacancy rate in new buildings was 18.12%, up 0.19 points from last month but down 11.50 points from September 2012.Read more

by Zoe Ward

Residential yields and vacancy rates in Minato-ku - October 2013

According to real estate listing site Homes, the average yield on an apartment in Minato-ku in October was 5.8%, down 0.2 points from last month. The average yield across Tokyo was 7.7%, down 0.2 points from September.Read more

by Zoe Ward

Investment properties across Japan see jump in prices

According to First Logic, the average price of investment properties listed on their Rakumachi site in September have seen a jump in prices while corresponding yields have fallen.

Both 'apaato' buildings and individual apartments nationwide have seen their advertised prices increase by 10% ~ 16% from last month. Meanwhile 'mansion'-type buildings have seen prices fall 2.36% from August, although they are still higher than last year. Read more

by Zoe Ward

Secondhand apartment prices in August - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 40,340,000 Yen in August. This is an increase of 1.2% from last month and 2.8% from August 2012. It is also the first time since March 2012 that the price has exceeded the 40 million Yen mark.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price in August was 53,870,000 Yen, up 1.1% from last month and up 5.2% from last year. The average apartment age was 21 years.  Read more

by Zoe Ward

August rental data - Tokyo Kantei

The average monthly rent of a condominium apartment in greater Tokyo in August was 2,549 Yen/sqm, up 0.6% from last month and up 3.3% from last year. The average apartment size was 59.35 sqm (639 sqft) and the average apartment age was 18.7 years.

The average rent in Tokyo's 23-ku was 3,096 Yen, down 1 Yen from last month but up 3.3% from last year. The average apartment size was 56.13 sqm (604 sqft) and the average age was 17.4 years.Read more

by Zoe Ward

New apartment prices in August

The Residence Mita. All 90 apartments initially released for sale sold out on the same day.

According to the latest data from the Real Estate Economic Institute, a total of 4,145 brand new apartments were released for sale across greater Tokyo in August, up 53.3% from last year. This is the supply of apartments in the month of August since 2005.

Of those, 3,378 were sold making the contract ratio 81.5%.

Meanwhile, a total of 2,250 second-hand apartments were also sold in greater Tokyo during the month.

The average price of a new apartment was 47,960,000 Yen, up 0.5% from last year. The average price per square meter was 677,000 Yen, down 2% from last year.Read more

by Zoe Ward

Land prices increase for first time in 5 years

The MLIT announced the nationwide standard land prices (kijun-chika) on September 19. These land price surveys are carried out by the prefectural governments each year on July 1.

This year, commercial land prices increased in Tokyo, Osaka and Nagoya for the first time in five years.

Nationwide, the overall land prices were down 1.9%. This is the 22nd year of decline, although the rate has reduced from a 2.7% decline in 2012. The decline is being pulled down by rural or regional area suffering from depopulation, which saw prices drop 2.6% this year. Overall land prices in Japan's three largest cities, however, were up 0.1% after a 1% drop in 2012.Read more

by Zoe Ward