Prices of large apartments in Tokyo fall in second half of 2011

The Japan Real Estate Institute (JREI) published their "Residential Market Index" report on price movements for apartments in Tokyo's 23 wards for the first half of 2011.Read more

by Zoe Ward

The demise of security deposits and key money

Good news for tenants and bad news for landlords in Japan: A change in the traditional transaction customs in the residential and commercial rental market in Japan is underway which is putting more power on the tenants' side.

The various fees usually paid by a tenant such as security deposits (shikikin) and key money (reikin) are decreasing.  Japan's declining birth rates, decreasing population, oversupply of housing and the growing awareness of consumer rights have put an end to the era where landlords once held all of the power.Read more

by Zoe Ward

Kobe's oldest foreign residence for rent

Rent: 1,260,000 Yen/month
Size: 192.71 sqm

Built in the late 1880s / early 1890s, this is said to be the oldest ijinkan in Kobe. Ijinkan is the name for the Western style residences built mostly for early foreign settlers during the end of the Shogunate and the Meiji era. Kobe is known for its collection of old Western residences and many in the Kitano area are open to the public as tourist attractions.Read more

by Zoe Ward

Kawaguchi Apartments (1964)

Size range: 36.80 ~ 146.85 sqm

This apartment building was built in 1964 by Japanese novelist, playwright and movie producer, Matsutaro Kawaguchi, and one of his quotes is displayed in the building lobby. It was considered one of the most luxurious apartment buildings in Japan for its time and was featured in GQ Japan magazine in 2001 in an article on desirable places to live. In its early years, the residents included many prominent people from the theater and literary world. It is located in the Kasuga 2 Chome area in Bunkyo-ku which was originally a very high-class residential neighborhood.Read more

by Zoe Ward

Living in a love hotel

Rent: 58,000 ~ 81,000 Yen/month

Tokyo-based property company, Landmarks Co., Ltd, have redeveloped a former love hotel in Sumida-ku into a rental apartment building. The studio apartments now have mini kitchens, bathrooms and, with the help of several designers, are finished in various modern and eclectic styles. The rooftop terrace was converted into a BBQ deck for residents (a rare thing to have in Tokyo apartments). The apartments have high-speed internet access, air-conditioning and there is also a washer/dryer room.Read more

by Zoe Ward

Average apartment rent falls by as much as 1.6% in June

Tokyo Kantei released the results of their survey on rent movements for condominium apartments for the month of June, 2011.

Tokyo City:
Average Rent: 2960 Yen/sqm/month - down 0.5% from MayRead more

by Zoe Ward

Tokyo office rents at historically low levels

Miki Shoji announced on July 7 that office rents for commercial properties in central Tokyo have fallen 4% in the past 12 months and are now at the lowest levels ever seen since data collection began.

A major contributing factor to this fall are the companies who are seeing lower earnings as a result of the March 11 Tohoku disaster and can no longer pay high rent for their office space.Read more

by Zoe Ward