Student housing to be built under Chuo East Line
The East Japan Railway Company (JR East) is building student accommodation under the train tracks in Koganei, West Tokyo. The apartments will be located on a 400-meter stretch located right underneath the Chuo East Line between Musashi-Koganei and Higashi-Koganei Stations.
Rent rises 11% on Tokyo Stock Exchange Building
The rent for the Tokyo Stock Exchange Building in Nihonbashi is increasing for the first time in 25 years. Starting in April, the building’s annual rent has increased by 11.1% to 3 billion Yen (approx. 28 million USD).
Miyakojima’s property boom
Land prices on this tropical island in Okinawa have increased by as much as 50,000% (no, that’s not a typo) over the past four years.
Osaka to have luxury high-rise rental apartments in 2022
A high-rise apartment tower under construction in Osaka’s Umeda district is set to become the region’s largest high-end rental building. The 56-storey, 191m tall building will have 836 rental apartments. Completion is scheduled for early 2022.
Apartment rents in Tokyo increase by 5.3% in 2018
The average rent for an apartment in Tokyo’s 23 wards saw a 5.3% year-on-year increase in 2018 - the highest annual percentage increase in over 10 years. This was due in part to the fact that over 10% of the listings in the first half of the year were new construction. Newly built apartments tend to command higher rents than older ones, and can pull up the average. Average rents in Tokyo are now up 16% from their bottom in 2012.
Apartment rents in Tokyo increase for 11th month
According to Tokyo Kantei, the average monthly rent for an apartment in Tokyo’s 23 wards was 3,526 Yen/sqm in October 2018, up 0.6% from the previous month and up 6.6% from last year. This is the 11th month in a row to see a year-on-year increase.
Tokyo apartment rents drop 0.5% from previous month
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,464 Yen/sqm in August, down 0.5% from the previous month but up 5.1% from last year. This is the 9th month in a row to see a year-on-year increase. The average apartment size was 55.47 sqm and the average building age was 19.5 years.Read more