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

by Zoe Ward

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

by Zoe Ward

Suita City to demolish modernist building

The Senri Newtown Civic Center Building in Suita City, Osaka, will be demolished next spring as growing maintenance costs put a strain on local city finances.

The modernist structure was designed by architect Togo Murano (1891 - 1984) who was widely regarded as one of Japan's Modern Masters. It was completed in 1964, just two years after the Senri Newtown area was developed. Murano also designed an extension that was made to the building in 1976.Read more

by Zoe Ward

Land prices rise in majority of areas - MLIT LOOK Report

Commercial land around the Abenobashi Terminal Building (left) and Tokyo Sky Tree (right) were the only two locations to see prices rise between 3 and 6% over the quarter.

According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) the majority of survey locations for their quarterly Chika LOOK Report have recorded an increase in land prices.

Land price movements were measured in 150 locations throughout Japan, but primarily in the three major cities of Tokyo, Nagoya and Osaka. 80 of those locations, or 53% of the total, recorded an increase in land prices, while 51 saw no change in prices. The remaining 19 locations saw prices fall somewhere between 0 and 3%.Read more

by Zoe Ward

April rental data - Tokyo Kantei

Tokyo Kantei announced the latest data on rental prices for condominium apartments across Japan. In greater Tokyo, the average monthly rent was 2527 Yen/sqm, down 0.6% from last month, but up 0.9% from April of 2012.

In Tokyo, the average rent did not change from the previous month but was up 1.6% from last year.

In the Kinki Region (Osaka, Hyogo Prefecture) rents are up by 5.8% from April 2012. In Osaka, the average rent of 1898 Yen/sqm in April saw little change from the month before but is 6.3% higher than last year. Rents in Kobe City are up by a staggering 9.5% from last year.Read more

by Zoe Ward

Secondhand apartment prices in April - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in greater Tokyo in April was 27,700,000 Yen (272,000 USD), down 0.4% from last month and down 4.3% from April 2012. 

In Tokyo, the average asking price was 36,290,000 Yen (357,000 USD), up 0.1% from last month but down 2.2% from last year. Osaka City is one of the few places that has seen asking prices increase from 12 months ago, with the average price up 1.2% from April 2012. Prices in Osaka's central 6 wards have increased by 6.8% over the year.Read more

by Zoe Ward

Japan's high-rise apartment market, March 2013

Grand Front Osaka (2013)

According to the latest data from the Real Estate Economic Institute's report on the high-rise apartment market, there are over 96,500 apartments in buildings over 20 stories tall either under construction or in the planning stages across Japan.

273 high-rise residential buildings are expected to be completed from 2013 onwards, with a total of 96,512 individual apartments. This is an increase of 38 buildings and 14,374 apartments from March 2012.Read more

by Zoe Ward