New apartment supply drops 8% from last year
According to the Real Estate Economic Institute, the supply of brand-new apartments released for sale across greater Tokyo in August dropped 8.2% from last year to 1,669 units. This time last year saw the release of several hundred apartments in the Harumi Flag Athlete’s Village conversion project on Tokyo Bay.
Osaka sees steep drop in registered short-term accommodations
Almost a third of Osaka’s short-term ‘minpaku’ listings have been deregistered by their hosts since the start of the pandemic.
Commercial land prices fall in second quarter
On August 21, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the quarterly LOOK Report showing changes in land prices in Japan’s major cities. With July 1 as the survey point, this is the second look at land values since the pandemic began.
Has the pandemic affected the supply and price of new and existing apartments?
Research provider Tokyo Kantei has released several reports looking at the state of Japan’s apartment market amidst the coronavirus pandemic, and it’s not all doom and gloom. Let’s take a look at some of the findings below.
How long did it take to sell an apartment in the first half of 2020?
How long were apartments sitting on the market and how much of a discount did they trade at? The below is summarized from a recent report provided by Tokyo Kantei that looks into any impacts that the coronavirus pandemic may have had on Japan’s residential real estate market in the first half of 2020.
83-yr old bathhouse in Osaka closes its doors
A historic and elaborately designed bathhouse in Osaka’s Ikuno Ward has closed its doors for good, ending 80+ years of operations. Gengabashi Onsen is thought to have been built in 1937 by a local landowner.
New apartment sales drop 82.2% in May
The number of new apartments released for sale across greater Tokyo in May dropped 82.2% from last year to just 393 units. This is the lowest volume since the Real Estate Economic Institute began reporting data in 1973. Showrooms remained closed for most of the month due to the nationwide state of emergency. The contract ratio was 72.3%, up 12.3 points from last year but down 6.6 points from April.