160m tall apartment tower for northern side of Atago Green Hills
Atago Green Hills will be getting a new 160-meter-tall apartment tower in the coming years. This project will potentially see a 43-story high-rise on a 2,910 sqm site. Completion could be sometime in the early 2030s.
46 listed companies dispose of real estate in first half of 2022
A total of 46 TSE listed companies reported the sale of domestic real estate holdings in the first half of 2022 (April-September), with Tokyo Shoko Research estimating that the annual number could reach a 15-year high of 100 companies.
Apartment asking prices in Tokyo increase for 28th month in a row
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in Tokyo’s 23 wards reached 69,710,000 Yen in October, up 0.6% from the previous month and up 7.8% from last year. This is the 28th month in a row to see a month-on-month increase. The average building age was 27.6 years.
Autumn sales sees contract ratio return above 70%
Autumn sales season kicked off last month with 2,768 brand-new apartments released for sale across greater Tokyo, a 36% increase from the previous month and a 34.7% increase from last year.
Atami hotels sold to US fund
The landmark Hotel New Akao in Atami has been sold to Shirakami, an affiliated company of Fortress Investment Group. The sale is for Hotel Acao Annex (former Hotel New Akao) and Hotel Acao (former Royal Wing) and approximately 7% of Acao Spa & Resort’s landholdings.
Tokyo’s rents increase for first time in 6 months
The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,820 Yen/sqm in October, up 0.6% from the previous month. This is the first month-on-month increase in 6 months. Rents are down 0.3% from last year.
58-story high-rise for Tsukishima
Construction has officially started for the Tsukishima 3 Chome North District Town Redevelopment which will see a 58-story apartment building on a prime site alongside Monja Street.