Sales start in Atlas Tsukiji
Sales in a new condo in Tokyo’s Tsukiji district started on March 7. Atlas Tsukiji is an 11-story apartment building located just behind the Tsukiji Hongwanji temple and a 3-minute walk from Tsukiji Station.
Why an Olympic delay could spell disaster for Athletes Village buyers
The discussion of delaying or even canceling the 2020 Tokyo Olympics has become a hot topic in recent weeks and has led to some questions about what will happen to the buyers of the 4,145 apartments in Harumi Flag - the condos that will be refurbished from the Athletes Village.
Office vacancy rate reaches new low in February
Tokyo’s prime office vacancy rate hit a new record low in February, dropping 0.04 points from the previous month to 1.49%. This is the lowest vacancy rate seen since December 1990 when it was as low as 0.39%.
Shizuoka hotels hit with almost 500,000 cancellations due to tourist drop
The impacts of the coronavirus are being painfully felt by hotel and ryokan operators in Shizuoka’s popular hot spring locations. Hotels and onsens that have relied heavily on tour groups from China are now facing either temporary or permanent closure.
Japan’s first wood-frame high-rise condo to be built in Tokyo
Nomura Real Estate Development is in the process of building a wood-frame hybrid condominium in Tokyo’s Ochanomizu district.
Residential leases are on the decline
The number of residential rental contracts signed across greater Tokyo has been on the decline for over a year now, with the effects being felt on real estate brokerages. Teikoku Databank reported 104 real estate brokerages filed for bankruptcy across greater Tokyo in 2019, up 6% from 2018.
Partial interest in Otemachi office tower sells for 99.8 billion Yen
Mitsubishi Estate has sold a partial interest in the Otemachi Park Building for 99.8 billion Yen (approx. US$974 million).