Tokyo apartment rent falls to lowest level in 4 years

According to Tokyo Kantei, the average rent for an apartment in greater Tokyo for the month of September fell 0.1% to 2578 Yen per square meter. In Tokyo's 23 wards, the average rent remained unchanged at 3,038 Yen/sqm, but is down 3.1% from September, 2010, and is currently at the lowest level seen in over 4 years. The average rent fell 0.2% in Kanagawa, 0.8% in Chiba and 2.6% in Saitama with Saitama City recording a fall of 4.2% from the month before. The aging apartment buildings in the City's Chuo and Urawa wards contributed to the decline.Read more

by Zoe Ward

Apartment prices in Tokyo down 10% in September

According to the latest data from the Real Estate Information Network for East Japan (REINS), the number of purchase contracts on houses and apartments sold on the secondary market in greater Tokyo in September fell over 3% from the previous year. The average selling price for both apartments and houses in greater Tokyo still remain lower than in 2010.Read more

by Zoe Ward

What is the current market value of an apartment in Tokyo?

Real estate research and marketing company, Attractors Lab, have collected data from apartment sales in greater Tokyo and have made this data available for free through their new site called Sumai Surfing (www.sumai-surfin.com). Through the website, users can view the average apartment selling price when brand new and the current market price. Registered users are also able to view past sales history. Using the collected data, the current market value for almost any apartment can be estimated.Read more

by Zoe Ward

Land and apartment prices continue to fall [Nomura]

Nomura Real Estate Urban Net published the results of their survey on residential land and apartment price movements on October 1, 2011. According to the data, bearish patterns continue for residential land prices in greater Tokyo (Tokyo, Kanagawa, Saitama and Chiba).

Between July and September, residential land prices fell 1% in greater Tokyo. Of the surveyed areas, 5.7% had an increase in land prices, 64.3% had no change and 30% had a fall in prices. Meanwhile, land prices in Tokyo's 23 wards saw no change over the past 12 months while Saitama and Chiba Prefectures both saw a decline of 1.9%. Read more

by Zoe Ward

Housing starts in Tohoku up 18.5% and 59.3% in Fukushima

According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the new housing starts for the 6 prefectures in Tohoku had increased by 18.5% to 4523 units in August, compared to the same month in 2010. This is the second continuous month of increases.Read more

by Zoe Ward

And the most desirable area in Tokyo is…

In 3rd spot: Ebisu, Shibuya-ku.

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

by Zoe Ward

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

by Zoe Ward