Construction Co to relocate 140-yr old house to Koto-ku
Construction giant Shimizu Corporation has acquired the historic home of Viscount Shibusawa Eiichi and will relocate it to an innovation center currently being developed on a manmade island in Tokyo Bay.
A forecast of new apartment prices between 2019 and 2025
On May 28, the Japan Real Estate Institute (JREI) issued their latest medium-term forecast for the price of brand-new apartments in Tokyo’s 23 wards. As we saw last year, price predictions have again been revised upwards from earlier forecasts. In 2019, the average new apartment price is forecast to be 1,065,000 Yen/sqm, up 0.4% from 2018 and 7.7% from an earlier forecast.
Tokyo Apartment Sales in May 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of May 2019:
Vintage apartment renovation in Shibuya gets 2,000,000 Yen/sqm price tag
A former expat rental apartment building in Shibuya’s Uehara neighborhood has been fully refurbished with the apartments now available for individual purchase. The condo-conversion is a growing trend in Tokyo where land is scarce and construction costs run high.
Scandal-hit site in Gotanda sold by rightful owner
Real estate developer Asahi Kasei Realty & Residence Corporation has emerged as the successful buyer of a scandal-hit property near Tokyo’s Gotanda Station.
Local market report: Daikanyama (2019)
Daikanyama is as fashionable and trendy as Omotesando, but with a more laidback vibe on weekends. Sitting in a prime position between Ebisu and Shibuya Stations, it is a great place for a lucky few to call home. It is extremely difficult to find suitable homes and apartments on the market in this neighborhood due to a naturally limited inventory (a lot of the neighborhood is low-density), while many of the residents tightly hold onto their homes for the long-term.
Let’s take a look at the current real estate market conditions.