Redevelopment not an option for many apartment buildings
Buying an apartment in an older building may be appealing because you can get more space for your money, but what will happen down the track when the building has reached a point where it needs rebuilding?
According to the Ministry of Land, Infrastructure, Transport and Tourism, only 218 apartment buildings nationwide have either been redeveloped or are in the process of doing so. This represents just 0.5% of the 38,000 buildings built before 1981 - the year when the major change to earthquake-resistant building codes was introduced.
So why are there so few examples? Read more
Daiwa House to demolish modernist building in Kobe
An example of Japan's pre-war modernist architecture is slated for demolition in February. The former Osaka Gas Shinkaichi Building in Chuo-ku, Kobe, has survived WWII firebombing raids and the 1995 Great Hanshin earthquake, but is unlikely to survive the urban redevelopment as it will soon be replaced by an apartment building. Read more
NHK to Redevelop Shibuya Broadcasting Centre
Television broadcaster NHK announced plans to redevelop their broadcasting centre in Shibuya. The project is expected to cost approximately 300 billion Yen and will be completed by 2025 (although the president of NHK expressed a desire to have it completed by the 2020 Olympics).Read more
Foreign developers caught by zoning regulations in Niseko
Development in parts of Niseko's ski fields is being stalled due to inconsistencies between national and prefectural government building approvals.
In recent years, a number of hotels in Niseko have been purchased by foreign funds, closed down and in many cases demolished. The foreign developers acquired the hotels with the aim of building condominium-type hotels and resort apartments which would then be sold to wealthy foreigners.
However, a number of these sites have been sitting vacant without any signs of construction.
Why the hold up?Read more
Shibuya City Office redevelopment to include new apartments
The redevelopment of the ageing Shibuya City Offices will include a 37-storey apartment building with 414 apartments.
Part of the development site will be leased to a developer on a 70-year term. The revenue from the leasehold is expected to cover the costs of the city office redevelopment. Five developers are bidding for the project, and the final decision will be made in the next few months.Read more