And the most desirable area in Tokyo is…
Major 7 announced the results of their latest survey of the most desirable neighborhoods in Tokyo and the Kansai area. The data is collected by Mitsubishi Estate, Daikyo and 5 other major condominium developers. In Tokyo, Kichijoji was in top spot for the fourth consecutive year. Ashiya was number one in Kansai for the seventh consecutive year.Read more
No one wants to live near the Hamaoka Nuclear Power Plant
The coastal city of Omaezaki in Shizuoka Prefecture suffered a big fall in land prices and is seeing vacancy rates soar as property transactions and prices plummet.
The tsunami in northern Japan and the Fukushima nuclear disaster have had a big effect on this coastal town which is also home to the controversial Hamaoka Nuclear Power Plant. Vacancy rates are climbing and property transactions are down.Read more
Prices of large apartments in Tokyo fall in second half of 2011
The Japan Real Estate Institute (JREI) published their "Residential Market Index" report on price movements for apartments in Tokyo's 23 wards for the first half of 2011.Read more
Land prices across Japan continue to fall after the Tohoku disaster
On September 20, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) published the results of the nationwide land price survey (chika-chosa) as of July 1, 2011. Overall, land values fell by 3.4% from the year before with residential land falling by 3.2% and commercial land values falling by 4.0% over the same period. In 2010, residential land values fell by 3.4% and commercial land fell by 4.6% so the rate of decline has lessened slightly.Read more
Who said all Japanese apartments lose their value immediately after purchase?
Real estate marketing and research firm, Attractors Lab, has compiled a list of the apartment developers and the resale value of their apartments 10 years after completion. In top spot was Marubeni Corporation.
The data is based on apartments built in the last 10 years that were listed for sale on the secondary market in 2010. The purchase price when brand new was compared to the asking price when the property was re-listed in 2010. The data only included developers who have built over 30 buildings.Read more