Nomura announces new "Ohana" apartments

Nomura Real Estate has announced plans to develop a new brand of low-cost condominium apartments under the new "Ohana" brand. While Nomura's most well-known "Proud" series of apartment buildings are typically priced from 50 ~ 60 million Yen per apartment, the "Ohana" apartments will be priced between 20 ~ 30 million Yen (255 ~ 385,000 USD) each. They hope to sell over 1000 apartments per year with an annual sales target of 30 billion Yen.Read more

by Zoe Ward

Apartment Survey: 40% say now is the time to buy

The latest results from a survey by real estate market research company, Attractors Lab, has shown that only 40% of respondents believe that now is the time to buy an apartment. In April, the month following the Tohoku disaster, that number was 45%.

The same survey was also conducted four times between April, 2010, and January, 2011, and each time over 60% of respondents indicated that they thought it was the right time to buy.Read more

by Zoe Ward

"Proud Minamiazabu" to be built on French Embassy site

The 4000sqm site of the former French Embassy in Minamiazabu 4 Chome is about to be redeveloped into a luxury 7-storey condominium apartment complex.

The developers are Mitsui Fudosan Residential and Nomura Fudosan and the construction company is Takenaka Corporation. Nomura will act as the sales agent. The project is currently called the "French Embassy Site Minamiazabu Project" but the final building name may be "Proud Minamiazabu", which will be the latest in Nomura's "Proud Series" of apartments.Read more

by Zoe Ward

Average apartment rent falls by as much as 1.6% in June

Tokyo Kantei released the results of their survey on rent movements for condominium apartments for the month of June, 2011.

Tokyo City:
Average Rent: 2960 Yen/sqm/month - down 0.5% from MayRead more

by Zoe Ward

Yokohama Prince Hotel site redevelopment work commences

Clearing work has started on the site of the former Yokohama Prince Hotel in Isogo ku, Yokohama. The 11 hectare site will have a 1200 unit condominium, commercial facilities as well as a child-care center.

The site is located on the top of a hill and development will include elevator access as well as a tunnel. The five developers working on the project are Tokyo Tatemono, Orix Real Estate, Tokyu Corporation, Itochu Toshi Kaihatsu and Nippon Tochi-Tatemono.Read more

by Zoe Ward

High-rise Refugees

Tokyo's bayside area, which has seen a boom in high-rise condominiums or "tower mansions" in recent years, is now considered a rather risky area to live since the March 11 earthquake. The earthquake caused land liquefaction and many elevators to stop working, resulting in a newly coined term for residents living on high floors - "high-rise refugees".

"There was a lot of swaying. It felt like an amusement park ride" remarked a resident who lives in a 54-storey condominium in Koto-ku's Shinonome area. "I still cannot forget the sounds made by the steel-frame of the building."Read more

by Zoe Ward

Market prices for apartments along the Hibiya Subway Line in Tokyo

The following data was published by Tokyo Kantei in July, 2011, and is based on the asking prices for apartments for sale on the secondary market along the Tokyo Metro Hibiya Line. The most recent data for 2011 is based on listing prices from March to May.

The apartment price in the table below is the price in Yen per square meter. The number in brackets is the average apartment age in years.Read more

by Zoe Ward