12 investors suing their 'dates' after elaborate apartment sales scam uncovered on dating site

Twelve men and women are suing Tokyo-based real estate agencies, apartment sales offices and lending institutions for 200 million Yen in the Tokyo District Court after purchasing over-priced investment apartments at the suggestion of their dates met through online dating sites.

Their 'dates' turned out to be real estate agents who concealed their occupation and allegedly sweet-talked the plaintiffs into purchasing apartments. After settlement, however, their dates ceased all communications.Read more

by Zoe Ward

Residential yields and vacancy rates in Minato-ku - March 2014

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in March was 5.5%, up 0.1 points from February. The average gross yield across Tokyo was 7.3%, down 0.1 points from the previous month.

The vacancy rate remains unchanged at 9.9% in Minato-ku and 11.0% across Tokyo.

The average asking price of a secondhand apartment in Minato-ku was 779,828 Yen/sqm as of March 1, up 2.7% from the previous month. The average asking price for land was 1,063,939 Yen/sqm, down 0.8%.Read more

by Zoe Ward

First apartment building for Osaka's Midosuji Boulevard

Midosuji OsakaAfter a recent relaxation of zoning rules, Osaka's Midosuji Boulevard will soon see its first apartment building. 

Sekiwa Real Estate Kansai - a subsidiary of Sekisui House - is planning have the mixed-use building completed by 2016. The building height is expected to be approximately 100m, with luxury rental apartments on the higher floors. Read more

by Zoe Ward

TAS Corp's rental market data for February

According to TAS Corp's latest report on the rental market for apartments, the average vacancy rate in Tokyo's 23-ku was 11.85% in February, up 0.15 points from the previous month and up 0.28 points from February 2013.

Apartments were advertised for an average of 3.02 months before finding a tenant.Read more

by Zoe Ward

MUFG to offer reverse mortgages

The Bank of Tokyo-Mitsubishi UFJ (MUFG) will begin offering reverse mortgages this month.

While the majority of reverse mortgages in Japan are only based on the value of the land (due to the low value given to older buildings), MUFG's mortgages can also apply to homes and apartments.Read more

by Zoe Ward

1 in 8 households in Japan live in an apartment

According to Tokyo Kantei, 11.94% of households in Japan live in a condominium apartment. The Tokyo metropolitan area has the highest percentage with 25.90% of households living in apartments.

  • Tokyo: 25.90%
  • Kanagawa Prefecture: 22.17%
  • Osaka: 18.20%Read more

by Zoe Ward

Secondhand apartment prices in January - 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 41,080,000 Yen in January, up 1.0% from the previous month and up 4.2% from January 2013. The average apartment age was 20.6 years.

In central Tokyo's six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment price was 55,680,000 Yen, up 1.4% from the previous month and up 8.1% from last year. The average apartment age was 20.9 years.Read more

by Zoe Ward