Traditional merchant residence in Gifu to be converted into boutique hotel
Work is well underway on the conversion of a historic and traditional residence in Gifu into a boutique hotel. The former Matsuhisa Residence was built 100 years ago by the operator of a successful wholesaler of Japanese paper materials. The residence was designed to accommodate guests and customers during the Meiji and Taisho eras. The two-story sukiya-style wooden house with tiled roof has a total of 12 tatami rooms, a tea room, and four warehouses. The buildings sit on 2400 sqm of land.Read more
Central Tokyo apartment sale prices reach 2nd highest level
According to REINS, 4,117 second-hand apartments were reported to have sold across greater Tokyo in March, up 18.2% from February and up 7.8% from last year. This is the 3rd month in a row to record a year-on-year increase in transactions. The average sale price was 34,900,000 Yen, up 0.3% from the previous month and up 3.6% from last year. The average price per square meter was 539,600 Yen, up 1.3% from the previous month and up 3.6% from last year.
91-yr old machiya in Nihonbashi converted into event space
A Tokyo-based real estate company has acquired a 91-year old townhouse in Tokyo’s Nihonbashi district with plans to refurbish it into an event space. Reservations will start from April 15.
Redevelopment discussions underway in Tsukuda 2 Chome, Chuo, Tokyo
Landowners in the Tsukuda 2 Chome address in Tokyo’s Chuo ward are considering a large-scale redevelopment. Current considerations are for a mixed-use project including a hotel, retail and apartments.
New potential redevelopment plan announced for Shibuya Station area
On December 18, Tokyu Land announced the formation of a project agreement with the Next Shibuya Sakuragaoka District Town Area Redevelopment Preparation Committee.