Tokyo apartment rents drop slightly after moving season
The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,835 Yen/sqm in June, down 0.3% from the previous month but up a slight 0.2% from last year. The average apartment size was 51.38 sqm (553 sq.ft).
Restrictions on resort development in Kutchan lagging behind schedule
New restrictions on resort development in Kutchan Town, near the popular Niseko ski resort, were scheduled to be introduced this fall, but have been pushed back. These restrictions are aimed at protecting the town’s natural environment and scenery from an unchecked surge in development by foreign funds in the Hirafu and Hanazono districts.
Tokyo apartment prices increase for 26th month
The average sale price per square meter in Tokyo’s 23 wards increased for the 26th month in a row in June, with a 9.9% year-on-year increase to 900,300 Yen/sqm. Meanwhile, the average building age was 22.31 years, up from a 20.86-year average in June 2021.
Tokyu to sell five golf and ski resorts
On July 1, Tokyu Land Corporation announced the planned sale of five golf and ski resorts to several buyers, including a hotel operator. The sale price has not been made public. The sale is part of Tokyu’s ongoing revision of its resort business with the aim of improving capital efficiency.
Foreign investors find Kyoto real estate cheap
According to the Kyoto Shimbun newspaper, offshore investors are out in force buying up real estate in Kyoto, with property prices in the historic city considered comparatively inexpensive.
Tenant sought for 95-year old historic home in Tokyo
Tokyo City is looking for a new tenant for the historic Ogasawara Residence in Shinjuku. The Spanish-style home was built in 1927 for Count Nagayoshi Ogasawara (1885-1935).
Capella Kyoto to open in 2025
On July 5, NTT Urban Development Corporation announced a management agreement with Capella Hotels & Resorts to open Capella Kyoto in the Higashiyama district.