Sekisui House to acquire Akasaka building for 74 billion Yen

Kokusai Akasaka Building According to Reuters, Sekisui House plans to acquire the Kokusai Akasaka Building for 74 billion Yen (724 million USD). The office building is located alongside Sotobori Dori Avenue and is meters from Tameikesanno Station. It is also just across the street from Sanno Park Tower.Read more

by Zoe Ward

Accordia Golf to sell courses to Singaporean fund for 100b Yen

Accordia Golf Japan

Accordia Golf announced plans to sell the majority of their golf courses in Japan to a Singaporean-based fund for approximately 100 billion Yen (980 million USD).

After the sale, Accordia will continue to manage the courses for a fee. Read more

by Zoe Ward

Nippon Accommodations Fund acquires Atagoyama Tower

Atagoyama Tower 1

Nippon Accommodations Fund announced on February 19 that they will be acquiring a 31-storey apartment building in Nishi-Shinbashi for 8.65 billion Yen (85 million USD). Although the seller was not disclosed, the building had previously been acquired by SEB Asset Management's Asian Property Fund in 2008.Read more

by Zoe Ward

Why Japanese investors are targeting apartments on high floors

Japan's inheritance tax rate is set to increase from January 1, 2015. Under the current tax rate, approximately 4% of households are subject to inheritance taxes, but the decrease in the standard deduction from 2015 is going to affect a lot more households.

Wise investors are seeking alternative ways to store their fortune, with high-rise apartments in central Tokyo becoming a popular option.Read more

by Zoe Ward

Hiroshima to have tallest apartment building in region

City Tower Hiroshima 1

Sumitomo Realty & Development announced the launch of a condominium in Hiroshima that will be the region's tallest apartment building when complete. City Tower Hiroshima will be 192 meters tall and contain 514 two, three and four-bedroom apartments.

Residential apartments will be on floors 13 to 52, with a lobby on level 12. The majority will be 3-bedroom apartments with an internal area of 75 sqm (807 sqft). Read more

by Zoe Ward

Secondhand apartment prices in February - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo's 23 wards was 41,420,000 Yen in February, up 0.8% from the previous month and up 4.8% from last year. The average apartment age was 20.5 years.

In central Tokyo's six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment price was 56,830,000 Yen, up 2.1% from the previous month and up 10.4% from last year. The average apartment age was 20.6 years.Read more

by Zoe Ward

The Parkhouse Grand Minamiaoyama Takagicho to be demolished and rebuilt

The Parkhouse Grand Minami Aoyama

Mitsubishi Jisho Residence announced that they will be demolishing and rebuilding The Parkhouse Grand Minamiaoyama Takagicho* apartment building after serious construction faults were discovered prior to completion. The construction company, Kajima Corporation, is expected to bear most of the reconstruction costs.

Apartments in the 7-storey condominium in Minato-ku were initially priced from 85 ~ 350 million Yen with an average price of 1,400,000 Yen per square meter. 83 of the 86 apartments were already under contract by December when online message boards began to report rumours of some structural issues with the building. Read more

by Zoe Ward