New housing starts predicted to fall below 800,000 units by 2020s
With the spillover effects from the sluggish Japanese economy causing new housing starts to decrease, the number of vacant properties to increase and the move towards long-life housing, experts are predicting the number of new housing starts to fall below 800,000 units by the early 2020s.Read more
Average apartment rent falls by as much as 1.6% in June
Tokyo Kantei released the results of their survey on rent movements for condominium apartments for the month of June, 2011.
Tokyo City:
Average Rent: 2960 Yen/sqm/month - down 0.5% from MayRead more
Market prices for apartments along the Hibiya Subway Line in Tokyo
The following data was published by Tokyo Kantei in July, 2011, and is based on the asking prices for apartments for sale on the secondary market along the Tokyo Metro Hibiya Line. The most recent data for 2011 is based on listing prices from March to May.
The apartment price in the table below is the price in Yen per square meter. The number in brackets is the average apartment age in years.Read more
Average secondhand apartment prices for June only increase in Osaka
Tokyo Kantei has announced the average sale prices for secondhand apartments across Japan for the month of June, 2011.
In the greater Tokyo area, the average price was 29,750,000 Yen (376,580 USD). This is a fall of 0.7% from the month before, and a fall of 3.5% from June of 2010. It is also the first time in 17 months that prices have fallen.Read more
Tokyo office rents at historically low levels
Miki Shoji announced on July 7 that office rents for commercial properties in central Tokyo have fallen 4% in the past 12 months and are now at the lowest levels ever seen since data collection began.
A major contributing factor to this fall are the companies who are seeing lower earnings as a result of the March 11 Tohoku disaster and can no longer pay high rent for their office space.Read more
Rent for condominium-type apartments down in June
According to Tokyo Kantei, the average monthly rent for a condominium-type apartment in greater Tokyo for the month of June has fallen compared to the previous month.
Average Rent:
- Tokyo City: 2960 Yen/sqm, down 0.5%
- Kanagawa: 2027 Yen/sqm, down 0.6%
- Saitama: 1620 Yen/sqm, down 1.6%
- Chiba: 1593 Yen/sqm, down 0.2%
New condominium supply down 32.9% in Tokyo area
The Real Estate Economic Institute announced that new apartments offered for sale in the greater Tokyo area (Tokyo, Kanagawa, Saitama and Chiba) have fallen to 3441 units in June, 2011. This is a steep fall of 32.9% from June of 2010.
This is being attributed to the March 11 Tohoku disaster which has led to consumers putting off purchases of large-ticket items and has caused developers to delay sales of new properties. Developers are anticipating a recovery from Fall, 2011, so the supply of apartments in the Tokyo area is expected to increase in a few months time.Read more