Office buildings see improved earnings rate in 2022
On November 29, the Japan Real Estate Institute released its six-monthly report on the total earnings rate (rental income and capital gains) of office buildings in central Tokyo.
Tokyo’s newest and most expensive apartments
Although it is still decades behind, Tokyo’s luxury* property market is finally starting to catch up with its international counterparts. Several new projects in the city center have lifted the bar for pricing and design.
How much can you expect to pay?
Japan's property price index illustrates recent growth in house and land prices
On November 30, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the nationwide property price index for the month of August 2022. What is interesting to note is the recent growth in residential land and detached house prices. Both segments had remained somewhat flat for around 10 years, but have seen a surge in price appreciation since mid-2020.
Land prices increase in over 80% of locations
According to the latest quarterly LOOK Report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), land prices at 81.3% of the surveyed locations saw an increase in the third quarter of 2022. This is the highest share seen since the fourth quarter of 2019.
Tokyo Apartment Sales in November 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of November 2022:
46 listed companies dispose of real estate in first half of 2022
A total of 46 TSE listed companies reported the sale of domestic real estate holdings in the first half of 2022 (April-September), with Tokyo Shoko Research estimating that the annual number could reach a 15-year high of 100 companies.
Apartment asking prices in Tokyo increase for 28th month in a row
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in Tokyo’s 23 wards reached 69,710,000 Yen in October, up 0.6% from the previous month and up 7.8% from last year. This is the 28th month in a row to see a month-on-month increase. The average building age was 27.6 years.