Shinagawa apartment building sells out 12 months prior to completion

Ober Grandio Shinagawa Katsushima 2

All 452 apartments in a 20-storey building under construction in Tokyo’s Shinagawa-ku have sold out 12 months prior to delivery.

Ober Grandio Shinagawa Katsushima is a new development by Taisei-Yuraku Real Estate and Haseko Corporation. Is is located on Katsushima - a man-made island built in 1949 as a warehouse district.

Sales were supported by pricing that was comparatively low for the Shinagawa area. 70 sqm (753 sq.ft) 3-Bedroom units were priced from 38 million Yen (355,000 USD), and 80 sqm (861 sq.ft) 4-Bedroom units were priced from 46 million Yen (429,000 USD).Read more

by Zoe Ward

Residential tower planned for site opposite Olympic Stadium

Gaien House 3

Gaien House, a 52 year old condominium located in a prime position across the street from the Olympic stadium site and Meiji Jingu Baseball Stadium, is about to be demolished and replaced with a 22-storey building containing apartments, commercial/retail space and childcare facilities. The project forms part of the Jingu-Gaien District Redevelopment, which also includes the demolition of the old Kasumigaoka Public Housing blocks, and the construction of new buildings for the Japanese Olympic Committee and Japan Sport Council.Read more

by Zoe Ward

Tokyo Apartment Sales in April 2016

April Apt Sales

The following is a selection of apartments that were sold in central Tokyo during the month of April 2016:Read more

by Zoe Ward

Japan’s high-rise market from 2016 onwards

Harumi

According to the Real Estate Economic Institute, there are 238 high-rise residential buildings containing a total of 89,844 units planned for completion across Japan from 2016 onwards. This is an increase of 48 buildings and 11,544 units from the previous survey point in March 2015.

65,012 units are located in the greater Tokyo region, representing 72.4% of the supply nationwide. 45,577 units in 92 buildings, representing 50.7% of the supply, are located in Tokyo’s 23 wards. In Tokyo’s Chuo-ku, which includes the bayside islands, 12,481 apartments are currently planned, representing 27.4% of the supply in Tokyo’s 23 wards.Read more

by Zoe Ward

53-storey hotel and residential complex for Nishiazabu

Nishiazabu 3 Development 2

Redevelopment discussions are moving forward for a prime site located directly across the street from Roppongi Hills. Although details are still under discussion, the project could be a mixed-use tower containing a 100-room hotel and 370 rental and condominium-type apartments.

According to a 2015 Investor Relations publication by Nomura Real Estate, the development may include a 53-storey tower with construction scheduled to start in 2018 and be completed by as early as 2022. It is possible that government allowances could result in a taller building than previously proposed.Read more

by Zoe Ward

Landlords: Should you choose a fixed-term or ordinary rental lease?

If you are planning to purchase an investment property in Japan, it is important to understand the key differences between the two types of rental leases available so that you can choose the one that best meets your requirements.

There are typically two types of rental agreements in Japan - fixed-term and ordinary. A fixed-term lease requires the tenant to vacate the property at the end of the rental term, while an ordinary lease can be renewed by the tenant indefinitely.  Ordinary leases tend to be more in favour of the tenant, while fixed-term leases are more in favour of the landlord.

If you are planning to sell your property in a few years, or move into it yourself, a fixed-term lease ensures that your property will be vacant when you need it to be.

Although the fixed-term lease system has been around since 2000, it is not widely used. A survey by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in 2014 found that just 3.2% of lease agreements had fixed-terms. A search on rental listing site Chintai.net shows that approximately 3.6% of rental listings in Tokyo’s 23 wards are for fixed-term leases. In Minato ward, the figure is higher with 7.9% of listings for fixed-term leases.
Read more

by Zoe Ward

Hankyu Realty planning 2 residential projects for Tokyo's top neighbourhoods

Hankyu Motoazabu Project 1
Motoazabu 3 Chome Project

Hankyu Realty, an Osaka-based real estate developer, is developing two high-end projects located in Tokyo's prime residential neighbourhoods of Aoyama and Azabu.

Motoazabu 3 Chome Project:

A 5-storey apartment building containing 19 units, and walking distance from Roppongi Station. The 1,000 sqm site, which has been a car park for several years, was listed for sale back in 2010 for 1.18 billion Yen. It is just 400 meters from Roppongi Hills and across the street from the San Marino Embassy. Read more

by Zoe Ward