Quick real estate news summary for the week
Tokyo apartment rents reach new high, French restaurant near Tokyo Tower to be demolished, and apartment asking prices hit new record. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Listed companies offload real estate holdings in pandemic
A total of 76 companies listed on the Tokyo Stock Exchange reported the sale of real estate assets in 2020, up from 59 in 2019 and the first time to exceed 70 in four years. Total capital gains from the sales reached 441.6 billion Yen (approx. US$4 billion), the highest in 20 years.
March apartment sales hit highest level in history
According to REINS, the number of second-hand apartments reported to have sold across greater Tokyo in March reached the highest level for that month since record-keeping began in May 1990. A total of 4,228 apartments were reported to have sold, up 16.1% from last year and up 17.9% from February.
Quick real estate news summary for the week
Office vacancies increase for 13th month, Tokyo Midtown Yaesu to open in 2022, and 98 islands identified for foreigner-transaction reporting requirements. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Business hotels performing the best in a bad situation
The onset of the pandemic and international travel bans in March 2020 saw occupancy rates in Japan’s hotels plummet. Resort hotels saw occupancy levels drop to just 3.3% during the State of Emergency in May 2020, while traditional ryokans weren’t far behind with 5.9% occupancy.
Tokyo Apartment Sales in March 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2021:
Quick real estate news summary for the week
Fire insurance policy terms reduced, Blackstone to acquire 8 hotels, and apartment asking prices in Tokyo increase for 8th month in a row. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.