Tokyo second-hand apartment sale prices up for 53rd month in a row
According to REINS, 3,461 second-hand apartments were sold across greater Tokyo in February, up 21.0% from the previous month but down 2.2% from last year. The average sale price was 31,520,000 Yen, up 0.4% from the previous month and up 3.5% from last year. This is the 50th month in a row to see a year-on-year increase. The average price per square meter was 492,900 Yen, down 0.1% from the previous month but up 4.6% from last year. This is the 53rd month in a row to see a year-on-year increase. The average building age was 20.38 years.
In the Tokyo metropolitan area, 1,784 second-hand apartments were sold, up 19.3% from the previous month and up 1.4% from last year. This is the 11th month in a row to see a year-on-year increase in transactions. The average sale price was 38,670,000 Yen, up 1.3% from the previous month and up 4.1% from last year. The average sale price per square meter was 651,300 Yen, up 0.5% from the previous month and up 5.2% from last year.Read more
Average age of an apartment sold in Tokyo in 2016 increases from previous year
According to REINS the average age of a second-hand apartment sold in greater Tokyo in 2016 was 20.26 years, up 0.13 years from 2015. The average age of an apartment listed for sale during the year was 22.32 years, up 0.27 years from 2015. Apartments less than 5 years old made up 9.5% of all second-hand apartment sales in 2016, up 0.8 points from 2015. Apartments over 30 years old accounted for 24.3% of all sales, showing no change from the previous year.Read more
New apartments in Tokyo to be completed in 2017
The following is a selection of condominiums due for completion in central Tokyo in 2017. Proud Roppongi and Royal Season’s Akasaka are the only buildings where some of the larger apartments come with two bathrooms. Only one building has apartments over 200 sqm (Proud Roppongi).
Nomura to lead redevelopment project in Akasaka 7 Chome
According to an investor relations report by Nomura Real Estate Holdings, the developer will be participating in the Akasaka 7 Chome 2 District Redevelopment in central Tokyo.
Nomura will receive approximately 200+ apartments as part of the deal. The project is still in the planning stages, but construction could start sometime in 2020 with completion sometime between 2023~2025. These dates have been pushed back from earlier estimates and it is possible they could be delayed further. News of the project first surfaced back in mid-2014 when landowners formed a redevelopment committee.Read more
Tokyo Apartment Sales in February 2017
The following is a selection of apartments that were sold in central Tokyo during the month of February 2017:Read more
Otemachi’s first serviced apartments to open this month
Otemachi, one of Japan’s top business districts, will see the opening of its very first residences at the end of this month. Until now, there have been no apartments or residential options in the Otemachi and Marunouchi districts.
Ascott Marunouchi Tokyo is located on the top 9 floors of the recently completed Otemachi Park Building. The 130 serviced apartments range in size from 38 ~ 163 sqm and are suitable for monthly stays. 121 of the apartments are studios and 1-Bedroom units, 8 are 2-Bedroom units and 1 apartment is a 3-Bedroom unit.Read more
Hakone modernist hotel to close next year
Hakone Hotel Kowaki-en will close its doors in January 2018, marking the end of 60 years of operations. The 224-room hotel was designed by modernist architect Yoshimura Junzo and built in 1959. The hotel’s garden dates back to 1914.
The hotel closure is due to aging buildings and facilities. The owner and operator, Fujita Kanko, operates 6 other hotels in the immediate neighbourhood, and this site is expected to form part of a larger hotel redevelopment project. It could include the adjoining Kowaki-en Horai-en Garden, which is a 16,000 sqm traditional Japanese landscape garden. Fujita Kanko acquired the garden in 2015.Read more