Tokyo is the most expensive city in the world to rent a 2-bedroom apartment
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
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
La Tour Shinjuku Grand
Average price: 1,183,000 Yen/sqm
Size range: 38.98 ~ 194.98 sqm (419 ~ 2098 sqft)
Average rent: 4990 Yen/sqm/month
Estimated Yield: 5.06% pa
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La Tour Shinjuku Grand is the latest addition to Sumitomo's La Tour Series of rental apartments. The special feature for this property is high ceilings. The ceiling height in each apartment is 3.7 meters, which is far higher than the standard 2.4m ceilings found in most Japanese apartments. The high ceilings are not wasted as some apartments come with lofts to maximize the usable space. The building is not big on amenities as it only has the standard concierge service and gym (no swimming pool). Residents also have free internet access.Read more
Shinjuku's latest luxury rental tower is home to Japan's first infinity rooftop pool
The brand new Park Habio Shinjuku Eastside Tower is the first rental building in Japan to have a rooftop infinity swimming pool for residents [As pointed out by a reader, Atago Green Hills Forest Tower (2001) has a rooftop pool on the 42nd floor]. Located on the 32nd floor, the infinity pool will have a commanding view of the Shinjuku skyline. There is also a bar lounge and rooftop terrace which can be used for residents to hold catered private parties. Other facilities include an indoor golf range, fully-equipped gym and karaoke room.Read more
Apartment rent falls again in November
According to Tokyo Kantei, the average apartment rent in Japan's three largest cities fell again in November.
In greater Tokyo, the average monthly rent fell 0.7% from the previous month to 2533 Yen/sqm. This is the fourth month of continual decline. In Tokyo City, rent fell by 0.6% to 2924 Yen/sqm. Kanagawa Prefecture saw the average monthly rent rise by 1.1% to 2044 Yen/sqm.Read more