Office vacancy rates and vacant floorspace down in August
Sanko Estate released their "Office Market" data report for high-rise office buildings with a floor plate of 660sqm or higher in Tokyo's central 5 wards (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) for the month of August, 2011. According to their data, the vacancy rate for August was 5.66% - down 0.45% from July.Read more
Average apartment management fees increased by 3.3%
According to the most recent survey by the Real Estate Economic Institute, the average monthly management fee for an apartment in greater Tokyo was 223.72 Yen/sqm in 2010, an increase of 3.3% from 2009.Read more
Land price movements for Japan for 2nd QTR announced
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced the land price movements for Japan on July 1st, 2011.
Of the 146 surveyed sites across Japan, land values for 7 sites increased, 53 sites saw no change and 86 sites saw a decline in values.
Compared to the previous report issued on April 1st, 2011, just following the Tohoku Disaster, it appears that land values are starting to stabilize.Read more
Prices of apartments on secondary market continue to fall
According to real estate information and consulting agency, Tokyo Kantei, the average price for an apartment on the secondary market in the greater Tokyo area (Tokyo, Kanagawa, Chiba and Saitama) in June, 2011, was 29.75 million Yen (386,000 USD). This is a fall of 3.5% from a year earlier and a fall of 0.7% from the previous month.Read more
July Market Data
- Average new apartment price down 3.7% in Tokyo
- No. of high-rise apartments fall 69.5%
- Office vacancy rates down in both Tokyo and Osaka
NEW APARTMENT SUPPLY DOWN:
Brand new apartments listed for sale in the Tokyo area in July fell 1.3% compared to a year earlier to 4073 units. This is the second month of decline. This is due in part to apartment showrooms opening for shorter hours to conserve power, less activity by developers and a general constraint in supply as material shortages and restrained buying cause developers to delay sales activity.Read more
Tokyo's population growth areas
While the overall population of Japan is declining with rural areas suffering the most, the population in urban areas is growing as people move to larger cities to find work. In Tokyo City, the population increased in 2011 by 52,549 people to a total of 12,662,461 residents. While Tokyo's population is continuing to grow, the rate of growth is, however, slowing. For potential investors in Japanese property, obviously it is important to stick to areas that are growing and avoid the areas in decline.
Tokyo's Koto-ku and Minato-ku saw the largest increase in population over the past year, while other areas in Tokyo such as Kita-ku and Nakano-ku saw a net decrease in population.Read more
Mitsubishi Jisho Residence is the top apartment supplier in 2010
Market Economy Research Institute and the Real Estate Economic Institute announced the supply rankings of apartment developers across Japan for 2010. Mitsubishi Jisho Residence was the largest supplier of new apartments throughout Japan with a total of 6148 units - an increase of 121.2% from 2009.
In second place, Mitsui Fudosan Residential increased their supply by 17.3% to 5455 units. And in third place was Sumitomo Realty & Development who increased their supply by 15.3% to 4731 units. A total of 126 companies responded to the questionnaire sent out by the research institutes in May and June.Read more