
Real estate giant HULIC is embarking on a redevelopment project that will see an older office building demolished to make way for a new data center in Nihonbashi.
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Real estate giant HULIC is embarking on a redevelopment project that will see an older office building demolished to make way for a new data center in Nihonbashi.
550 total views, 34 views today
With rental growth exceeding the increase in sale prices, the average price-earnings ratio (PER) for a brand-new apartment across greater Tokyo in 2021 was 24.56, down slightly from 2020 (24.69) but up from 2019 (24.36). A high PER means a low rental yield.
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The average reported sale price of a second-hand apartment in the Tokyo metropolitan area reached 919,400 Yen/sqm in April. This is a 4.2% increase from March and a 14.1% increase from last year. It’s also the 24th month in a row to see a year-on-year increase in sale prices.
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U.S. investment fund Lone Star is acquiring approximately 1,200 share houses from debtors that fell for a failed investment scam operated under the Kabocha-no-basha brand. The total acquisition price is estimated to be around 70 billion Yen (approx. US$536 million).
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On May 11, the Toyo Keizai Online publication reported that China’s sovereign wealth fund is considering the sale of the landmark Meguro Gajoen hotel and office property in Tokyo.
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The latest report from the Real Estate Economic Institute has estimated that a total of 112,000 apartments in high-rise towers are currently in the pipeline to be built across Japan from 2022 onwards. This is an increase of 17,000 units from last year’s report.
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The following is a selection of apartments that were reported to have sold in central Tokyo during the month of April 2022:
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Mita Garden Hills is now the official name of the large-scale luxury condominium project being developed by Mitsui Fudosan Residential and Mitsubishi Estate Residence in Minato’s Mita neighborhood. This is the second ‘Garden Hills’ since Hiroo Garden Hills was developed in the 1980s.
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On April 21, East Japan Railway Company (JR East) announced the construction plans for the area around the recently opened Takanawa Gateway Station. A total of four high-rises and one low-rise building will be completed by 2024 ~ 2025.
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The 64-story skyscraper in the Toranomon-Azabudai Project topped out at 330 meters on April 21. This is now the tallest building in Japan, exceeding Osaka’s 300-meter tall Abeno Harukas building.
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