Market Information – Page 151 – JAPAN PROPERTY CENTRAL K.K.

Contract rate in greater Tokyo exceeds 80%

The contract rate on condominiums in greater Tokyo reached 81.8% in April. This is the first time since February 2011 where the rate has exceeded 80%. The high percentage was helped by strong sales of large-scale condominiums, and signals a change towards positive market conditions.Read more

by Zoe Ward

Apartment price to income ratio worsens

According to research by Tokyo Kantei, the average new apartment price in Japan is 6.27 times the average annual income. This is an increase of 0.26 points from 2010, indicating an increased difficulty in purchasing homes.

The average price to income ratio for a secondhand apartment (10 years old) was 4.32 (0.26 points higher than 2010).Read more

by Zoe Ward

Tokyo's secondhand apartment market remains bearish

Data released by Tokyo Kantei has shown that the average price for a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23 wards in March 2011 fell 5.5% from March of the previous year.Read more

by Zoe Ward

Kansai's most expensive neighborhood is not where you think

The most expensive neighborhoods in the Kansai area are typically considered to be Ashiya and Kurakuen, both in Hyogo Prefecture.

However, according to the kouji-chika land assessment values, the most expensive residential land in Kansai is in the Shinpoincho area in Osaka's Tennoji-ku.

Shinpoincho has been in the number one spot for the past eleven years, yet remains relatively unknown as it does not have the same name recognition as the Ashiya, Tezukayama or Nara's Gakuenmae neighborhoods.Read more

by Zoe Ward

Office vacancy rates down for second month

According to Miki Shoji, office building vacancy rates in Tokyo's central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, and Shibuya) fell 0.11 points at the end of March to 9.04%. This is the second continuous month where vacancy rates have fallen. However, the lower vacancy rates are not a sign of a market recovery but are due to falling office rents.Read more

by Zoe Ward

Nomura announces apartment price movements for April

Nomura Real Estate Urban Net announced the results of their survey on land and apartment price movements as of April 1, 2012. In greater Tokyo, the average price of both residential land and secondhand apartments fell 0.5% during the first quarter. On an annual basis, the price of residential land in greater Tokyo was down 2.8% (compared to a 2.0% decline from one year ago). Secondhand apartment prices fell by 3.1% over the year (compared to a 2.4% decline from the previous period).Read more

by Zoe Ward

Accommodation shortages creating headaches for businesses in Miyagi and Iwate

The disaster-hit Tohoku region is experiencing a severe shortage in rental accommodation and local real estate companies are hurting.

"Despite inquiries increasing day by day, we have no properties on our books. We have clients in our office but no properties to show them. Our revenues are plummeting." - President of a property management company in Sendai City.

The months of February and March are typically the busiest and provide the largest revenues for the company, however they currently have no vacant studio apartments and accommodation is severely limited.Read more

by Zoe Ward