Osaka to demolish 99-yr old official residence
The Osaka Prefectural government is considering demolishing the 99-year old official prefectural governor's residence. The historic home had been occupied by many governors over the past century but there have been growing concerns over its safety in the event of an earthquake.
Tokyo apartment rent hits 2.5 year low
In September, the average monthly rent of a condominium-type apartment in the Tokyo metropolitan area was 3,712 Yen/sqm, down 0.3% from the previous month and last year, and the lowest level seen in 12 months. Neighboring Saitama and Chiba both saw rents fall by 1.0% and 1.7% from the previous month, although they are still higher than they were 12 months ago.
Patina hotel to open in Osaka in 2025
Capella Hotel Group is planning to open a Patina Hotels & Resorts-branded property in Osaka by 2025. This will be the second hotel under this luxury brand to open worldwide, following the Patina Maldives in 2021.
Tokyo apartment rents drop slightly after moving season
The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,835 Yen/sqm in June, down 0.3% from the previous month but up a slight 0.2% from last year. The average apartment size was 51.38 sqm (553 sq.ft).
Japan's rosenka land values increase after 2 years
This year’s rosenka land tax values were released by the National Tax Agency on July 1, and it’s been a mixed bag with some areas seeing gains and others losses.
Tokyo apartment asking prices increase for 23rd month
According to Tokyo Kantei, the average asking price of a 70 sqm second-hand apartment in Tokyo’s 23 wards was 67,990,000 Yen (approx. US$502,000) in May 2022, up 0.1% from the previous month and up 7.8% from last year. This is the 23rd month in a row to see an increase.
Osaka Marubiru to be demolished
The circular Osaka Marubiru office tower in Umeda will be redeveloped, with construction set to start next year.