120m tall office tower for Shibuya Station area
A 120-meter tall office tower is planned for a site just behind the Shibuya Hikarie building in central Tokyo.
Tokyo second-hand apartment sales up 8.5% in June
According to REINS, a total of 3,490 second-hand apartments were reported to have sold across greater Tokyo in June, up 27% from the previous month and up 5.2% from last year. The average sale price was 33,610,000 Yen, up 1.1% from the previous month and up 1.3% from last year. The average price per square meter was 527,500 Yen, up 1.8% from the previous month and up 1.6% from last year. This is the 5th month in a row to see a year-on-year increase. The average age of an apartment sold was 21.96 years.
Tokyo Apartment Sales in June 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2019:
Rosenka land values increase for 4th year in a row
The rosenka land values for 2019 were announced by the National Tax Agency on July 1. Nationwide, land values increased by 1.3%. This is the fourth year in a row to record a year-on-year increase. The rate of growth has also expanded, following 0.7% in 2018, 0.4% in 2017 and 0.2% in 2016. This is the first time to see four years of consecutive growth since 1992.
New housing starts forecast to drop a third by 2030
The Nomura Research Institute is forecasting a significant drop in new housing starts across Japan by 2030.
Kyoto’s office shortage is getting dire
Kyoto’s shortage of office space is becoming critical as vacancy rates drop below 1%. With a booming tourist industry, developers have been focusing on building hotels, leaving very little supply of new offices.