Residential yields and vacancy rates in Minato-ku - September 2013

According to real estate listing site Homes, the average yield on an apartment in Minato-ku in September was 6.0%, up 0.3 points from last month. The average yield across Tokyo was 7.9%, down 0.2 points from August.

The vacancy rate was 9.9% in Minato-ku and 11.0% across Tokyo.Read more

by Zoe Ward

All 1497 apartments now sold out in Proud Funabashi

All 1,497 apartments in Nomura's 'Proud Funabashi' development in Chiba have sold out. Nomura received a total of 2,919 purchase applications, and over 24,000 people visited their sales showroom since its opening in June 2012.Read more

by Zoe Ward

Second-hand homes to receive long-term superior housing certification

In 2014, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) will introduce a system to provide long-term superior housing certification to second-hand homes that have been renovated to meet current earthquake-resistant and energy conservation standards.Read more

by Zoe Ward

Apartment voting ratios under review

The government may soon introduce new measures to make it easier for old, ageing apartment buildings to be redeveloped. Currently, 100% of apartment owners must agree before their building can be demolished and the land sold, but this ratio may be reduced to 80%.

It is hoped that this will encourage the development of newer and more earthquake-resistant buildings which will improve the safety of neighbourhoods. It may also help to revitalise the real estate market.Read more

by Zoe Ward

Daiwa House aquires development site in Ariake

Daiwa House have acquired a 3.6 hectare development site in Ariake, Koto-ku for 42.17 billion Yen (approximately 424 million USD). The land was sold by the Urban Renaissance Agency (UR).

The site is part of the Ariake North District on a man-made island in Tokyo Bay. It has water frontage on two sides and is walking distance to Odaiba.Read more

by Zoe Ward

All 874 apartments in Osaka high-rise sold out prior to completion

All 874 apartments in the Osaka Hibiki-no-machi The Sanctus Tower have sold out two years prior to completion.

The 53-storey residential tower is being developed by Orix, Daikyo, Keihan Dentetsu Realestate, Daiwa House and Osaka Gas Urban Development.Read more

by Zoe Ward

Pembroke to redevelop site opposite Tokyo Midtown

Pembroke Real Estate will soon be embarking on their first redevelopment project in Japan - a 14-storey retail/commercial building in Roppongi 7 Chome. The site is in a prime position alongside Gaien-Higashi Dori Avenue and directly across from Tokyo Midtown.

The 4,000 sqm development site was originally several smaller parcels of land. Pembroke began purchasing the various buildings from around 2007 onwards. The site temporarily housed the 'Mercedes Benz Connection' concept showroom and is located next door to a building housing the headquarters of the Inakawa-gai yakuza group.

Read more

by Zoe Ward