Land prices up in 71% of locations - MLIT LOOK Report

The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) published the data on land price movements across Japan for the third quarter in 2013 (July 1 ~ October 1).

The Chika LOOK Report measures land price changes in 150 locations throughout Japan. According to the latest data, 107 locations (71.3% of the total) saw an increase in land prices. This is higher than the last quarter which saw 99 locations with an increase in land prices. 34 locations (22.7%) saw no change in prices, while 9 locations (6%) saw a fall in land prices.Read more

by Zoe Ward

Osaka demolishes derelict home

Shigita Joto ku OsakaOsaka City began the forced demolition of a house in Joto-ku after the owner ignored official requests to repair or remove the dilapidated property.

The 50+ year old 2-storey wooden home is 500 meters east of Kyobashi Station and less than 2 km from Osaka Castle. The roof had collapsed and the house was starting to lean and was at risk of falling over the road and train tracks. The house was declared a hazardous or dangerous structure under the Building Standards Act and the owner was warned eight years ago to take appropriate measures to remedy the building.Read more

by Zoe Ward

Secondhand apartment prices in October - 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 40,660,000 Yen in October, up 0.6% from the previous month and up 3.3% from last year. This is the seventh month in a row where prices have seen a month-on-month increase.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 54,580,000 Yen, up 1.0% from the previous month and up 7.0% from last year. The average apartment age was 21.0 years.

Read more

by Zoe Ward

October rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,531 Yen/sqm in October, down 0.6% from the previous month, but up 2.8% from last year. The average apartment size was 59.14 sqm (636 sqft) and the average building age was 18.9 years.Read more

by Zoe Ward

Office vacancy rates in October

According to Miki Shoji's Office Report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.56% in October, down 0.34 points from the previous month and down 1.18 points from last year.

This is the lowest level seen in over 4 years. Read more

by Zoe Ward

Mizuho's Real Estate Market Report

Mizuho Trust & Banking Co. released their Real Estate Market Report for October 2013. According to the data, second-hand apartment sales are making up a growing proportion of total apartment sales in both greater Tokyo and the Kinki region.

In Tokyo's 23 wards, around 10,000 second-hand apartments have been sold annually since 2010. The highest proportion of sales and the highest transaction volume is in Tokyo's central six wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya and Bunkyo).Read more

by Zoe Ward

September rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,545 Yen/sqm in September, down 0.2% from the previous month but up 2.7% from last year. The average apartment size was 59.31 sqm (638 sqft) and the average apartment age was 18.8 years.

In Tokyo's 23-ku, the average monthly rent was 3,095 Yen/sqm, down 1 Yen from August but up 3.0% from last year. The average apartment size was 56.20 sqm and the average age was 17.6 years.Read more

by Zoe Ward