Secondhand apartment prices in July - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 39,850,000 Yen in July - up 0.3% from last month and up 1.6% from July 2012. The average apartment age was 20.7 years.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average price in July was 53,280,000 Yen, down 0.3% from last month but 3.4% higher than last year. The average apartment age was 20.9 years.Read more

by Zoe Ward

Kyoto to ease building restrictions for narrow blocks

To encourage the redevelopment of ageing buildings located on land with narrow street frontages, Kyoto City will be easing building restrictions.

Many of Kyoto's small lane ways are crowded with wooden buildings that pose a fire hazard. The measures will target approximately 700 buildings built before 1950 in Kamigyo, Nakagyo, Shimogyo and Higashiyama-ku.Read more

by Zoe Ward

New apartment prices in Sendai up 15%

Apartment prices in Sendai continue to grow with the average price of new apartments in the first half of 2013 increasing by 15% to 461,515 Yen/sqm.

The average apartment price in greater Sendai was 34,650,000 Yen (355,000 USD), up 10.1% from the first half of 2012.Read more

by Zoe Ward

July rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of an apartment in greater Tokyo in July was 2,533 Yen/sqm, down 0.3% from last month but up 2.6% from July 2012. The average apartment size was 59.37 sqm (639 sqft) and the average age was 18.6 years.

The average rent in Tokyo's 23-ku dropped 0.1% from last month to 3,097 Yen/sqm, but is still 3.4% higher than last year. The average apartment size was 55.98 sqm (602 sqft) and the average age was 17.1 years.Read more

by Zoe Ward

Chongryon headquarters back on the auction block

The Chongryon headquarters and North Korean de facto embassy building in Tokyo will be put up for public auction for a second time in early October.

The building and land was first listed for auction in March 2013. It made headlines after the winning bidder - the chief priest of a Kagoshima-based buddhist temple - failed to come up with the money for his 4.5 billion Yen bid.Read more

by Zoe Ward

Kyoto's traditional boathouses to be rented out

Kyoto Ine Funaya 2To combat the growing number of empty and unused traditional boathouses in Kyoto's Ine Town, the local government is considering plans to rent these houses out to new residents.

The scenic area is designated as an Important Preservation District for Groups of Traditional Buildings by the Agency for Cultural Affairs. Read more

by Zoe Ward

Tokyo may soon see a shortage of new apartments

In July, the number of unsold new apartments across greater Tokyo fell to 4,247 units - the lowest level seen since 1990.

In the first half of the 2000s, land prices started to rise as a surge in activity by real estate funds started an investment boom. In addition, strong demand for steel from emerging economies pushed up construction costs in Japan. As a result, developers repeatedly pushed up apartment prices. The sudden drop in demand from buyers when the global financial crisis hit in 2008 left a growing inventory of unsold apartments.Read more

by Zoe Ward