Same-day sellout in Brillia Tama New Town

All 252 apartments available in the first round of sales for Brillia Tama New Town have sold out on the same day.

Brillia Tama New Town is the redevelopment of the Suwa 2 Chome Jutaku housing complex and is the biggest project of its kind in Japan. Developed by Tokyo Tatemono, the new complex will have 1249 units, of which 565 will go to owners of the demolished apartments.Read more

by Zoe Ward

Kansai's most expensive neighborhood is not where you think

Shinpoincho, Tennoji-ku

The most expensive neighborhoods in the Kansai area are typically considered to be Ashiya and Kurakuen, both in Hyogo Prefecture.

However, according to the kouji-chika land assessment values, the most expensive residential land in Kansai is in the Shinpoincho area in Osaka's Tennoji-ku.

Shinpoincho has been in the number one spot for the past eleven years, yet remains relatively unknown as it does not have the same name recognition as the Ashiya, Tezukayama or Nara's Gakuenmae neighborhoods.Read more

by Zoe Ward

Office vacancy rates down for second month

According to Miki Shoji, office building vacancy rates in Tokyo's central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, and Shibuya) fell 0.11 points at the end of March to 9.04%. This is the second continuous month where vacancy rates have fallen. However, the lower vacancy rates are not a sign of a market recovery but are due to falling office rents.Read more

by Zoe Ward

The cheapest rents in Tokyo by train station

Real estate listing site, SUUMO, have listed the top 10 areas around train stations that have the cheapest rent in Tokyo. Stations along the Toden Arakawa Line seem to dominate the listings, so tenants on a budget may want to look for places along this train line.

The average rent was calculated by the listings for Studios to 1-bedroom apartments on the SUUMO website as of March 14, 2012.Read more

by Zoe Ward

Nomura announces apartment price movements for April

Nomura Real Estate Urban Net announced the results of their survey on land and apartment price movements as of April 1, 2012. In greater Tokyo, the average price of both residential land and secondhand apartments fell 0.5% during the first quarter. On an annual basis, the price of residential land in greater Tokyo was down 2.8% (compared to a 2.0% decline from one year ago). Secondhand apartment prices fell by 3.1% over the year (compared to a 2.4% decline from the previous period).Read more

by Zoe Ward

Kobe City sells part of Harborland to developer

Kobe City has sold part of the Kobe Harborland site to Itochu Corporation.

A 4200 sqm block of land in Higashi Kawasakicho 1 Chome was sold for 3.12 billion Yen (38 million USD). Itochu are planning to build a condominium on the site. Under the arrangement, the condominium will include a nursery school.Read more

by Zoe Ward

Accommodation shortages creating headaches for businesses in Miyagi and Iwate

The disaster-hit Tohoku region is experiencing a severe shortage in rental accommodation and local real estate companies are hurting.

"Despite inquiries increasing day by day, we have no properties on our books. We have clients in our office but no properties to show them. Our revenues are plummeting." - President of a property management company in Sendai City.

The months of February and March are typically the busiest and provide the largest revenues for the company, however they currently have no vacant studio apartments and accommodation is severely limited.Read more

by Zoe Ward