Commercial standard land prices in Japan’s big cities increase for 4th year in a row
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced this year’s Standard Land Prices on September 20.
Nationwide, land prices declined for the 25th year in a row with a 0.6% decrease, although the rate of decline is slowing. Meanwhile, commercial land prices stopped their downwards trend for the first time in 9 years.
Land prices in Japan’s urban centres of Tokyo, Osaka and Nagoya continued to benefit from booming foreign tourist numbers, redevelopment and infrastructure projects, shrinking office vacancy rates, and monetary easing.
Commercial land prices in these three cities increased by 2.9%, representing a fastening pace after 2.3% growth in 2015 and 1.7% growth in 2014. In the Tokyo metropolitan area, commercial land prices increased by 4.1% in 2016, after a 3.3% increase in 2015. In Osaka city, they were up 4.7% this year.Read more
Average apartment rent in August 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,661 Yen/sqm in August, up 0.3% from the previous month and up 2.7% from last year. The average apartment size was 60.26 sqm and the average building age was 19.7 years.
In the Tokyo metropolitan area, the average monthly rent was 3,223 Yen/sqm, up 2.5% from the previous month and up 1.4% from last year. In the Tokyo metropolitan area, the average apartment age decreased from 18.3 years to 17.6 years, which contributed to the increase in the average rent from the previous month. The average apartment size was 57.73 sqm.Read more
Tokyo apartment asking prices in July 2016
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in July 2016 was 34,940,000 Yen, up 0.6% from the previous month and up 13.9% from last year. This is the 7th month in a row to record an increase from the previous month. The average building age was 22.4 years.
In the Tokyo metropolitan area, the average asking price was 47,860,000 Yen, down 0.1% from the previous month but up 12.2% from last year. This ends a 24-month streak of consecutive monthly price increases. The average building age was 22.0 years.
In Tokyo’s 23 wards, the average asking price was 52,790,000 Yen, down 0.2% from the previous month but up 10.8% from last year. The average building age was 21.9 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 71,850,000 Yen, up 0.5% from the previous month and up 7.3% from last year. The average building age was 20.0 years.Read more
Average apartment rent in July 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,652 Yen/sqm in July, up 1.8% from the previous month and up 2.4% from last year. A larger share of transactions in the Tokyo metropolitan area, where rents are higher than surrounding areas, pulled up the average. The average apartment size was 59.40 sqm and the average building age was 20.0 years.
In the Tokyo metropolitan area, the average monthly rent was 3,144 Yen/sqm, up 0.4% from the previous month but showing no change from last year. The average apartment size was 57.22 sqm and the average building age was 18.3 years.Read more
Tokyo apartment asking prices increase for 24th consecutive month
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in June 2016 was 34,730,000 Yen, up 0.6% from the previous month and up 15.3% from last year. This is the 6th month in a row to record an increase from the previous month. The average building age was 22.2 years.
In the Tokyo metropolitan area the average asking price was 47,900,000 Yen, up 0.5% from the previous month and up 14.7% from last year. This is the 24th month in a row to record an increase in prices. The average building age was 21.9 years.
In Tokyo’s 23 wards the average asking price was 52,870,000 Yen, up 0.4% from the previous month and up 12.9% from last year. The average building age was 21.8 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 71,500,000 Yen, up 0.1% from the previous month and up 8.8% from last year.
Average monthly rent in June 2016
According to Tokyo Kantei the average monthly rent of a condominium in greater Tokyo was 2,605 Yen/sqm in June 2016, down 2.1% from the previous month and down 0.5% from last year. The average apartment size was 59.73 sqm and the average building age was 19.8 years.
In the Tokyo metropolitan area the average monthly rent was 3,132 Yen/sqm, down 1.0% from the previous month but up 0.7% from last year. The average apartment size was 57.08 sqm and the average building age was 18.0 years.Read more
Nagoya City has over 50 public buildings at risk of collapse or damage in strong earthquake
On July 4, Nagoya City released details on 50 city-owned buildings across the city that face a high risk of collapse in an earthquake producing a seismic intensity (shindo) level of 6+ or above. All 50 buildings were built before the 1981 change in earthquake-resistant construction methods. 45 of those buildings are public housing complexes which are home to as many as 2,500 households.Read more