Motoazabu Grand Mansion to be demolished in February
Taisei Corporation announced that they will begin the demolition of expat apartment "Motoazabu Grand Mansion" in February. The demolition work is scheduled to be completed by the end of November.Read more
Tsunami-hit homeowners to receive 80% of former land values
The town of Shinchi in Fukushima Prefecture will soon begin the process of buying up land in coastal areas from residents who have been displaced from the March 11 tsunami. This is the first town to announce official plans and set purchase values.
The land will be purchased at 80% of the government assessed land values (koji-chika) that were valued prior to the disaster.
There are five towns and cities along the tsunami-hit coastline, incuding Minamisoma, Soma, Iwaki, Hirano and Shinchi, that plan to relocate residents to higher ground. In Shinchi, 500 homes were fully or partially destroyed by the Tohoku earthquake and tsunami.Read more
Don't hold your breath for the new Yamanote Line Station
Because it won't be open for another 10 years.
At the beginning of January newspapers were abuzz with news of a new proposed station on the Yamanote Loop Line, and many articles mentioned the potential rise in real estate prices for the area surrounding the proposed station.
But how realistic are these stories?
The proposed station will be between the Shinagawa and Tamachi stations, and if it does get the go ahead, it is still not expected to be open until at least 2020. Similar reports of a new station also made the rounds about eight years ago.Read more
Tepco to sell apartment building in Nagoya
As part of their restructuring in order to pay compensation to victims of the Fukushima Daiichi Nuclear disaster, Tepco will be selling an apartment building they own in Nagoya City.
"Solcher Tsurumai" is a 14-storey, 2 basement apartment complex that was built in 1999. It has a total floor area of 22,000 sqm and is on a 3500 sqm site. There is a supermarket on the 1st floor and residential units from the 2nd floor and above. Tepco purchased the building in 2001 through their subsidiary, Toden Real Estate.Read more
Politician Ozawa's vast real estate holdings
Politician and former Democratic Party Leader, Ichiro Ozawa, has been involved in a drawn-out trial over possible involvement in false reporting of political funds stemming from the 400 million Yen cash purchase of land in Fukazawa, Setagaya-ku, in 2004.
The indictment alleges that he conspired with three former aides in not listing the 400 million yen loan to Rikuzankai in its political funds report in 2004, and listing 350 million yen for the land purchase in a 2005 funds report, instead of for 2004. Also, the organization did not explain where the funds came from.Read more