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.
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Real estate developer Mori Trust will be opening the showroom for its latest luxury condominium in Tokyo on September 26. The low-rise condo is located near Yoyogi Park and the bustling Shibuya shopping district.
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The exterior and rooftop design for the newest retail complex at the crossing above Meiji-Jingumae Station in Harajuku has been released.
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The trillion-Yen Tokiwabashi Project, under development by Mitsubishi Estate near Tokyo Station, has had an exterior redesign and a few floors added. With an expected height of 390 meters, this will be Japan’s tallest building when completed in 2027.
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The now-vacant site of the former Tsukiji Fish Market might be put up for sale, according to the Mainichi Shimbun newspaper. The 23-hectare waterfront site is within walking distance to Ginza. Its massive size and location make it an appealing target for developers.
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The median discount on an existing apartment sold in Tokyo’s 23 wards in August was 1.46%, up 0.06 points from July but showing no change from August 2019. Buying activity continued to improve again in August, with transactions looking similar to the volume seen last year.
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The following is a selection of apartments that were reported to have sold in central Tokyo during the month of August 2020:
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As residents in major cities around the world ponder moving to greener pastures, are Tokyo-ites doing the same thing? Are we seeing a mass exodus out of one of the world’s most livable cities?
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More details have been announced for the redevelopment of a historic art deco building near Azabu Juban in Tokyo. Real estate giants Mitsui Fudosan and Mitsubishi Estate will be turning the site into over 1,000 luxury apartments.
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Transactions and prices of second-hand apartments in greater Tokyo continue to improve as buyers return to the market. Monthly transactions in July were down just 2.4% from last year, ending a four-month run of double-digit declines. A total of 3,156 second-hand apartments were reported to have sold.
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