Office vacancy rates in September - Miki Shoji

PMO Kanda TsukasamachiAccording to Miki Shoji's office report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.90% in September, down 0.26 points from last month and down 1 point from last year. This is the third month in a row where rates have fallen. It is the first time since November 2009 that vacancy rates have been in the 7% range.

The vacancy rate in new buildings was 18.12%, up 0.19 points from last month but down 11.50 points from September 2012.Read more

by Zoe Ward

Osaka may lift ban on rental apartments along Midosuji Avenue

Midosuji Avenue OsakaFrom the next fiscal year onwards, Osaka City will allow the construction of rental apartment buildings alongside Midosuji Avenue.

Currently, only commercial and retail buildings are allowed along the tree-lined street.Read more

by Zoe Ward

Secondhand apartment prices in August - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 40,340,000 Yen in August. This is an increase of 1.2% from last month and 2.8% from August 2012. It is also the first time since March 2012 that the price has exceeded the 40 million Yen mark.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price in August was 53,870,000 Yen, up 1.1% from last month and up 5.2% from last year. The average apartment age was 21 years.  Read more

by Zoe Ward

August rental data - Tokyo Kantei

The average monthly rent of a condominium apartment in greater Tokyo in August was 2,549 Yen/sqm, up 0.6% from last month and up 3.3% from last year. The average apartment size was 59.35 sqm (639 sqft) and the average apartment age was 18.7 years.

The average rent in Tokyo's 23-ku was 3,096 Yen, down 1 Yen from last month but up 3.3% from last year. The average apartment size was 56.13 sqm (604 sqft) and the average age was 17.4 years.Read more

by Zoe Ward

Land prices increase for first time in 5 years

The MLIT announced the nationwide standard land prices (kijun-chika) on September 19. These land price surveys are carried out by the prefectural governments each year on July 1.

This year, commercial land prices increased in Tokyo, Osaka and Nagoya for the first time in five years.

Nationwide, the overall land prices were down 1.9%. This is the 22nd year of decline, although the rate has reduced from a 2.7% decline in 2012. The decline is being pulled down by rural or regional area suffering from depopulation, which saw prices drop 2.6% this year. Overall land prices in Japan's three largest cities, however, were up 0.1% after a 1% drop in 2012.Read more

by Zoe Ward

Office vacancy rates in August - Miki Shoji

Ark Hills South TowerAccording to Miki Shoji, the office vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya was 8.16% in August, down 0.13 points from the previous month.  Vacancy rates decreased in four of the five districts.

The vacancy rate in new buildings was 17.93%, up 5.21 points from the previous month. Read more

by Zoe Ward

All 874 apartments in Osaka high-rise sold out prior to completion

All 874 apartments in the Osaka Hibiki-no-machi The Sanctus Tower have sold out two years prior to completion.

The 53-storey residential tower is being developed by Orix, Daikyo, Keihan Dentetsu Realestate, Daiwa House and Osaka Gas Urban Development.Read more

by Zoe Ward