Earthquake insurance premiums set to rise by as much as 30%
From July 2014, earthquake insurance premiums are set to rise by an average of 15.5% across Japan, with some areas seeing a price hike of as much as 30%.
The reason for the increase is due to expectations of another major earthquake that could affect the country in the future. Following the 2011 Tohoku disaster, insurers were left with nearly 1.2 trillion Yen in claims. This has severely drained the reserve fund. Read more
March rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,601 Yen/sqm in March, up 1.5% from the previous month and up 2.4% from March 2013. The average apartment size was 59.50 sqm and the average building age was 18.5 years.
The average rent in Tokyo’s 23-ku was 3,191 Yen/sqm, up 1.3% from the previous month and up 3.6% from last year. This is the fifth month in a row where the average rent has increased from the previous month. The average apartment size was 56.40 sqm and the average building age was 16.7 years.Read more
Office vacancy rates in March - Miki Shoji
According to Miki Shoji’s office report, the office vacancy rate in Tokyo’s five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 6.70% in March, down 0.31 points from the previous month and down 1.86 points from March 2013. This is the first time since May 2009 that vacancy rates have dropped to the 6% range.
The vacancy rate in brand new buildings was 20.26%, up 0.61 points from the previous month but down 2.98 points from last year. Read more
Secondhand apartment prices in January - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo's 23 wards was 41,080,000 Yen in January, up 1.0% from the previous month and up 4.2% from January 2013. The average apartment age was 20.6 years.
In central Tokyo's six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment price was 55,680,000 Yen, up 1.4% from the previous month and up 8.1% from last year. The average apartment age was 20.9 years.Read more
Office vacancy rates in January - Miki Shoji
According to Miki Shoji's office report, the office vacancy rate in Tokyo's five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.18% in January, down 0.16 points from the previous month and down 1.38 points from January 2013. Vacancy rates have been decreasing for the past 7 months.
The vacancy rate in brand new buildings was 14.42%, down 0.08 points from the previous month and down 9.79 points from last year.Read more
January rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo in January was 2,574 Yen/sqm, up 1.6% from January 2013 and up 2.4% from the previous month. The average apartment size was 58.86 sqm and the average building age was 19.0 years.Read more
Secondhand apartment prices in December (and 2013 average) - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in greater Tokyo in 2013 was 27,910,000 Yen, down 2.5% from the previous year. The average apartment age was 20.2 years. For the month of December, the average price was 28,310,000 Yen, up 0.3% from the previous month and up 0.4% from December 2012.
The average price in Tokyo's 23 wards in 2013 was 39,950,000 Yen, up 0.5% from 2012. The average building age was 20.5 years. For the month of December, the average asking price was 40,660,000 Yen, up 0.1% from the previous month and 2.3% higher than December 2012.Read more