Kengo Kuma-designed luxury apartment and retail building opens tomorrow
Forestgate Daikanyama, a mixed-use office, retail and residential complex near Daikanyama Station officially opens its doors tomorrow. The 10-story building includes retail and office on the first three floors, and 57 luxury apartments on floors four through ten.Read more
Tokyo apartment rents up 11.9% y-o-y
After remaining relatively subdued throughout the pandemic, apartment rents in Tokyo’s 23 wards are on the rise, increasing by 8% since the start of the year.
The average monthly rent of a condominium apartment in the 23 wards was 4,266 Yen/sqm as of August, up 2.3% from the previous month and up 11.9% from last year. This has exceeded the previous record high set in July. Read more
50-yr old office building converted into share space
An old building in Jimbocho Book Town has been converted into a multi-use share space. Osaka-based construction company, Keyman Inc., took a 50-year old building with a GFA of 288m2 and carried out earthquake retrofitting and upgrades. And they didn’t do it alone - they worked with Souzou Kei Fudosan for consulting and Aki Watanabe Architects for design.Read more
Rapidly rising condo prices causing rental renaissance in Japan
An interesting shift is underway in the rental market as investors and developers see the potential in roomier apartments. This has been spurred on by the rising price of condominiums. Would-be home buyers priced out of the market are renting instead, leading to a new influx of tenants.Read more
Star Asia to acquire 11 assets for 49.1 billion Yen
Star Asia Investment Corporation is acquiring seven hotels and four apartment buildings across Japan for 49.1 billion Yen (approx. US$343 million). The appraised cap rate is 4.8%.Read more
Larger apartments seeing greater rent increases than smaller studios
Changes in rental prices in greater Tokyo are not uniform, with larger apartments now outperforming smaller, single-occupant housing. This is happening for a few reasons.Read more
High apartment prices now spreading to the rental market
Would-be buyers, priced out by the ever-increasing sale price of apartments in central Tokyo, are turning to rentals, causing it to swing to a landlord’s market. A recovery in corporate earnings and pay-rises is also expanding renters’ budgets.Read more