Tokyo apartment rents hit new high in February
In February, the average rent of an apartment in Tokyo's 23 wards was up 1.1% from last year, according to Tokyo Kantei.
9.7% rent discount for public servants in Akasaka
No rental inflation here. Residents of the Akasaka Public Dormitory for Diet Members are about to see their monthly rent discounted by over 13,000 Yen from next month onwards.
Toranomon Hills Residential Tower reaches completion
The newest building in the Toranomon Hills area officially reached completion on January 20, 2022. Toranomon Hills Residential Tower is a 220-meter tall, 54-story luxury apartment tower developed by Mori Building. Residents will be able to move in from May.
Our Japan Property Market Report for 2021
2021 saw much of the country in a state or semi-state of emergency for most of the year. Nevertheless, the Nikkei stock index ended the year at the highest level seen since 1989. The real estate market also steamed ahead as buyers appeared to be unfazed by the pandemic. For most sectors of the real estate market, conditions remained somewhat similar to 2020. Residential prices continued to rise as inventory dwindled. Rental prices diverged as larger apartments saw rents rise while smaller studios saw rents fall.
Please feel free to view or download the PDF of our annual Japan Property Market Report, linked below.
Luxury rental apartments added to Torch Tower
A recent use-change will see some luxury rental apartments added to Japan’s tallest tower-to-be. On January 8, the Nikkei Shimbun newspaper reported that the 390-meter tall Torch Tower, on the northern side of Tokyo Station, will have around 50 apartments with monthly rents ranging from 1 ~ 5 million Yen (approx. US$8,650 ~ $43,200). The largest apartment will be in the 400 sqm (4,300 sq.ft) range.
Hotel New Otani offering month-long stays for 2.8 million Yen
The Hotel New Otani in Tokyo is now offering long-term stays in their New Edo Residence rooms. So far, two former hotel rooms on the 21st floor in the Garden Tower have been refurbished and converted into a 77 sqm suite and a 55 sqm deluxe room.
An apartment in Shinjuku for 99 Yen a month?
Who said living in Tokyo was expensive? IKEA Japan is offering a furnished rental apartment in Shinjuku for just 99 Yen (US 86 cents) a month.