Average apartment rents in Tokyo increase for 8th month
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,481 Yen/sqm in July, down 0.1% from the previous month but up 5.4% from last year. This is the 8th month in a row to see a year-on-year increase. The average apartment size was 55.40 sqm and the average building age was 18.9 years.Read more
1000 room hotel for Osaka’s Umeda district
On August 7, Hankyu Hanshin Holdings announced plans to open a 1,000 room hotel in Yodobashi Umeda Tower - a 35-storey redevelopment adjacent to the Yodobashi electronics store in Umeda, Osaka. The first 8 floors of the building will be retail, with the hotel located on floors 9 and above. The hotel is scheduled to open in 2020 as Hotel Hankyu RESPIRE Osaka, with the lower-floor retail to open in late 2019. This will be the largest hotel based on room count in Osaka City.Read more
Tokyo apartment asking prices in June 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,230,000 Yen in June, down 0.2% from the previous month but up 1.7% from last year. The average building age was 23.9 years.Read more
New apartment prices across greater Tokyo hit second highest level in history
The average price of a brand new apartment across greater Tokyo in the first half of 2018 has reached the second highest level seen in recorded history. According to the Real Estate Economic Institute, the average price was 59,620,000 Yen, exceeding the level of 59,350,000 Yen seen in the first half of 1990, but falling short of the peak of 64,500,000 Yen seen in the first half of 1991.Read more
Average apartment rents in Tokyo increase for 7th month
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,485 Yen/sqm in June 2018, down 0.3% from the previous month but up 5.9% from last year. This is the 7th month in a row to see a year-on-year increase. The average apartment size was 55.84 sqm and the average building age was 18.7 years.Read more
Tokyo apartment asking prices in May 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,320,000 Yen in May, up 0.8% from the previous month and up 1.7% from last year. The average building age was 23.7 years.Read more
Japan’s high-rise apartment market from 2018 to 2022 onwards
According to the Real Estate Economic Institute, there are currently 108,757 apartments in 294 high-rise buildings planned for completion across Japan from 2018 onwards. This is an increase of 9 buildings and 2,436 apartments from the previous survey point in March 2017.
73.8% of these apartments are centered in the greater Tokyo area, a 4.8 point decrease from 2017. Tokyo’s 23 wards accounted for a 51.1% share of the nationwide total, a 2.5 point decrease from last year. Chuo ward has the largest forecast supply with 12,514 apartments planned in the coming years, 22.5% of the total. This supply is limited to just 14 buildings, with an average of 894 apartments per building. Minato ward was in second place with 11,401 apartments planned in 33 buildings (an average of 345 apartments per building).Read more