Tokyo records net outflow of foreign residents in 2020

According to the Tokyo Metropolitan Government Statistics Division’s report on population movements in the capital in 2020, the metropolitan area saw the total population grow by 8,600 residents (both Japanese and foreigners) over the year. This is the 25th year in a row to see a year-on-year increase. The total population in the metropolitan area reached 13,960,236 residents as of January 1, 2021, while the population of the 23 wards increased by 2,154 to 9,655,266 residents.

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Nakano Sun Plaza to be redeveloped by 2028

Nakano Sun Plaza, a 48-year old hotel and concert building in Tokyo’s Nakano ward, will be demolished in 2024 and replaced with a new mixed-use building by 2028. The 181 billion Yen (approx. 1.7 billion USD) project will include a 235-meter tall mixed-use office and residential tower with a concert hall and hotel on the lower floors.

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Apartment transactions in January reach all-time high

The second state of emergency issued on January 7 wasn’t enough to slow buying activity this time around, with REINS reporting that 3,480 second-hand apartments were sold across greater Tokyo in January, up 37.3% from the previous month and up 29.9% from January 2020. This is the highest number of transactions seen for the month of January since REINS began reporting data in May 1990.

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