Office vacancy rates in July - Miki Shoji
According to Miki Shoji, the office vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) in July was 8.29%, down 0.17 points from last month and down 1.01 points from last year. Vacancy rates were down in four of the five business districts.
The vacancy rate in new buildings was 12.72%, up 1.12 points from last month but down 20.92 points from last year. Read more
Apartment price to income ratio worsens in 2012
According to data released by Tokyo Kantei on July 30, the average price of a brand new apartment in Japan was 6.53 times the average annual income, while a second-hand apartment (less than 10 yrs old) was 4.56 times the average income.
While apartment prices are rising, income levels are still declining. The average annual income in 2012 fell 4.6% to 4,170,000 Yen. This is the third year in a row where incomes have fallen.Read more
Office vacancy rates in June - Miki Shoji
According to Miki Shoji's Office Report for the month of June 2013, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 8.46%, up 0.13 points from last month but down 0.97 points from June 2012. This is the first time in four months that vacancy rates have increased.
The vacancy rate in new buildings was 11.60%, up 0.50 points from last month.Read more
Rosenka land values down 1.8% nationwide
The National Tax Agency announced the 2013 Rosenka land valuations on July 1. Although the average land value nationwide fell for the 5th year in a row, the rate of decline is slowing. Rosenka land values were down 1.8% across Japan in 2013, after falling 2.8% in 2012 and 3.1% in 2011.
In Tokyo, the rosenka land value dropped by 0.3%, compared to a 1.2% decline in 2012.Read more
Secondhand apartment prices in May - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku in May increased by 0.6% from last month to 39,600,000 Yen (405,000 USD). It is only 0.5% lower than the average price in May 2012.
Prices across Greater Tokyo, however, are down 4.2% from last year to 27,590,000 Yen (282,000 USD). Read more
MLIT Land White Paper 2013
On June 11, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the data from their 2013 White Paper on Land.
According to the report, land prices continue to fall across Japan although the rate of decline is shrinking. A greater number of survey locations saw an increase or stabilisation of land prices.Read more
Average apartment rent in May
According to Tokyo Kantei, the average monthly rent of an apartment in greater Tokyo in May increased by 0.1% from last month to 2,530 Yen per square meter. In Tokyo City, the average monthly rent in May was 2,979 Yen/sqm, up just 1 Yen from last month, but 2.2% higher than it was in May 2012. The average rent in Tokyo's 23 wards was 3,086 Yen/sqm, up 0.1% from last month and 2.2% from last year.Read more