CLT could soon be incorporated into Japan’s building code
Cross-Laminated Timber (CLT) could soon become more popular as a building material in Japan. While it is already possible to construct a building using CLT, current regulations require additional structural consideration and specific approval from the Ministry of Land, Infrastructure, Transport and Tourism (MLIT).
The government has been working on introducing legislation that will provide clear and concise standards under the Building Standards Act, and these changes could be introduced as early as this year. According to a white paper issued by the MLIT and the Forestry Agency in 2014, CLT production is estimated to reach 50,000 cubic meters in 2016. By 2024, it is hoped that annual production will reach 500,000 cubic meters (Europe produces approximately 700,000 cubic meters annually).Read more
Plans for Japan’s largest hotel on island in Okinawa
Hotel and restaurant operator Unimat Precious is planning a 3,400-room resort for Miyako-jima Island in Okinawa. The project will be an extension to the resort they currently operate on Miyako-jima. When complete, it is said that this will become the largest hotel/resort in Japan.
Shigira Resort is currently comprised of four different hotels, villas and condominiums located on a 3.3 million sqm beachfront estate. In addition to the 585 rooms currently under operations, there is also a golf course and hot spring facilities.Read more
Tokyo apartment asking prices increase for 18th consecutive month
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in December 2015 was 32,690,000 Yen, down 0.2% from the previous month but up 12.8% from the previous year. This ends a 15 month streak where prices were increasing on a month-by-month basis. The average building age was 22.1 years.
In the Tokyo metropolitan area, the average price was 46,230,000 Yen, up 1.6% from the previous month and up 17.1% from the previous year. This is the 18th consecutive month to record a month-on-month increase.
In Tokyo’s 23 wards, the average price was 51,430,000 Yen, up 1.6% from the previous month and up 17.4% from the previous year. This is also the 18th month in a row to see a month-on-month increase. The average building age was 21.6 years.Read more
New apartment prices in Tokyo increase for 3rd consecutive year
According to the Real Estate Economic Institute, 6,189 brand new apartments were released for sale in greater Tokyo in December, up 77.0% from the previous month but down 34.1% from December 2014. 4,013 apartments were sold, making the contract rate 64.8%, down 17.3 points from the previous month and down 5.1 points from 2014.
The average price of a new apartment was 54,570,000 Yen, down 13.8% from the previous month but up 8.7% from 2014. The average price per square meter was 762,000 Yen, down 12.5% from the previous month but up 7.3% from 2014.
The following buildings saw same-day sellouts in December:
- Brillia City Shakujiidai, Nerima-ku: 30 apartments sold; average price of 58,530,000 Yen.
- Premist Takao Sakura City, Hachioji: 66 apartments sold; average price of 39,020,000 Yen.
*Same-day sellouts occur when all of the apartments released for sale in a particular sales campaign receive purchase applications. As many developers release apartments for sale in stages, it does not necessarily mean that all apartments in the building have sold.
Tokyo Metropolitan Area Sales
2,895 new apartments were released for sale in Tokyo’s 23 wards, up 81.6% from the previous month but down 33.8% from 2014. 1,941 apartments were sold, making the contract rate 67.0%.Read more
Apartment prices along Tokyo’s Chiyoda Line
The following data from Tokyo Kantei shows the change in apartment prices along the Chiyoda Subway Line. The first half this subway line runs through several high-end residential neighbourhoods in central Tokyo, before making its way north and terminating at Kita-Ayase in Adachi Ward.
Also, the line feeds into other lines including the JR Joban Line and Odakyu Odawara Line, and is one of the most used subway lines in Tokyo. Ayase Station, for instance, is the second most used station on the Metro with an average of 437,000 daily passengers changing trains, while Yoyogi Uehara has 250,000 daily passengers.
Otemachi, Nijubashi-mae, Hibiya, Kasumigaseki, and Kokkaigijido-mae Stations have been left out of the data. These stations are in the political and corporate headquarter districts of Tokyo and have very few residential properties.
The average price across all stations on the Chiyoda Line was 891,000 Yen/sqm in 2015, up 32.1% from 2014. The average building age was 20.5 years, down from 21.7 years in 2014. The average apartment size was 59.88 sqm (644 sq.ft), down from 63.08 sqm in 2014.
December 2015 rental data and annual average
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,628 Yen/sqm in December 2015, up 0.2% from the previous month and up 2.6% from the previous year. The average apartment size was 59.84 sqm and the average building age was 19.7 years.
The average monthly rent in Tokyo’s 23 wards was 3,311 Yen/sqm, up 0.2% from the previous month and up 3.6% from the previous year. The average apartment size was 56.62 sqm and the average building age was 17.4 years.
Central Tokyo apartment sale prices drop as average building age increases
According to REINS, 2,543 second-hand apartments were sold across greater Tokyo in December, down 1.4% from the previous month but up 1.8% from 2014. The average apartment sale price was 28,640,000 Yen, down 1.8% from the previous month but up 0.6% from 2014. The average price per square meter was 454,400 Yen, down 1.2% from the previous month but up 1.3% from 2014. The average building age was 21.29 years (1.44 years older than the average in December 2014).
In the Tokyo metropolitan area 1,287 second-hand apartments were sold, down 14.2% from the previous month but up 3.0% from 2014. The average sale price was 35,770,000 Yen, down 1.0% from the previous month but up 2.0% from 2014. The average price per square meter was 610,100 Yen, down 1.5% from the previous month but up 2.8% from 2014. The average building age was 20.00 years (1.07 years old than the average in December 2014).
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 158 apartments were sold, down 15.1% from the previous month but up 3.9% from 2014. The average sale price was 53,550,000 Yen, down 0.4% from the previous month and down 6.6% from 2014. The average price per square meter was 968,300 Yen, down 3.7% from the previous month and down 3.0% from 2014. Read more