Tokyo Tower Vs. Sky Tree: How views affect rent

The May opening of Tokyo Sky Tree is set to revitalize the the old 'shitamachi' area as it will bring retail stores, tourists and new bus routes. When a neighborhood undergoes a transformation such as this, residential rents are expected to see a sudden rise in prices.Read more

by Zoe Ward

The cheapest rents in Tokyo by train station

Real estate listing site, SUUMO, have listed the top 10 areas around train stations that have the cheapest rent in Tokyo. Stations along the Toden Arakawa Line seem to dominate the listings, so tenants on a budget may want to look for places along this train line.

The average rent was calculated by the listings for Studios to 1-bedroom apartments on the SUUMO website as of March 14, 2012.Read more

by Zoe Ward

Accommodation shortages creating headaches for businesses in Miyagi and Iwate

The disaster-hit Tohoku region is experiencing a severe shortage in rental accommodation and local real estate companies are hurting.

"Despite inquiries increasing day by day, we have no properties on our books. We have clients in our office but no properties to show them. Our revenues are plummeting." - President of a property management company in Sendai City.

The months of February and March are typically the busiest and provide the largest revenues for the company, however they currently have no vacant studio apartments and accommodation is severely limited.Read more

by Zoe Ward

63% of Japanese apartment owners would rent to immigrants

First Logic conducted a recent survey of apartment owners to find out their opinions on recent government discussions about increasing the number of immigrants in Japan.

81% responded in favor of immigration. Of those, 63% said they would rent their property to immigrants, while 18% said they would not.Read more

by Zoe Ward

Kyoto Court ruling on renewal fees

The Kyoto District Court has ruled that the maximum apartment renewal fee cannot exceed 20% of the annual rent paid on the property.

On February 29th, the court made a ruling on a court case involving a 25 year old tenant who was suing her landlord for the return of her renewal fee. The judge ruled that a renewal fee that does not exceed 20% of one year's rent is appropriate, and ordered the landlord to return part of the tenant's renewal fee.Read more

by Zoe Ward

Tokyo is the most expensive city in the world to rent a 2-bedroom apartment

The 500.38sqm (5384 sqft) 1-bedroom penthouse in La Tour Daikanyama has an asking rent of 5,310,000 Yen/month and is the most expensive rental apartment in Tokyo.

According to a survey by ECA International, Tokyo is the most expensive city in the world to rent a 2-bedroom apartment, and the 2nd most expensive city in the world for 3-bedroom apartments.

Tokyo has also seen the biggest fall in rents in Asia. This continues the trend of year-on-year rental price decreases witnessed there since the onset of the global financial crisis in 2008.

Lee Quane, Regional Director of ECA International Asia explains that "assignee numbers in Tokyo are still lower than before the financial crisis". This means there is less demand for rental property in expatriate areas, and rents in those areas have steadily fallen since then, dropping almost 5% in Yen terms. Further falls in international assignee numbers following the tsunami and subsequent nuclear disaster have continued to contribute to this trend.Read more

by Zoe Ward

Apartments for wine lovers in Shibuya

Apartment developer, Inovv Inc, announced plans for a new residential building in Shinsencho, Shibuya-ku, that will be designed for wine aficionados.

Construction of the tentatively titled "Shibuya Shinsen Wine Apartment Project" will start in May 2012. The 10-storey building will have 18 studio apartments ranging from 42 to 45 sqm (452 ~ 484 sqft). Apartments will be available for rent only, and will not be available for individual sale.Read more

by Zoe Ward