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
Secondhand apartment prices in July - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 39,850,000 Yen in July - up 0.3% from last month and up 1.6% from July 2012. The average apartment age was 20.7 years.
In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average price in July was 53,280,000 Yen, down 0.3% from last month but 3.4% higher than last year. The average apartment age was 20.9 years.Read more
July rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of an apartment in greater Tokyo in July was 2,533 Yen/sqm, down 0.3% from last month but up 2.6% from July 2012. The average apartment size was 59.37 sqm (639 sqft) and the average age was 18.6 years.
The average rent in Tokyo's 23-ku dropped 0.1% from last month to 3,097 Yen/sqm, but is still 3.4% higher than last year. The average apartment size was 55.98 sqm (602 sqft) and the average age was 17.1 years.Read more
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