Construction on Olympic Athlete’s Village to start this month
On March 31, the Tokyo Metropolitan Government announced the post-olympic plans for the 44 hectare Athlete’s Village in the Tokyo bay area.
For the duration of the Olympics and Paralympics, athlete accommodation will be provided in 21 buildings ranging from 14 to 18 storeys. Afterwards, these existing buildings will be converted into condominium and rental apartments by private developers. After the games, construction will begin on two 50-storey high-rise apartment buildings. The entire project is expected to be completed by 2024.Read more
Yoshimura Junzo house in Nishiazabu demolished
A house designed by modernist architect Yoshimura Junzo (1907-1997) in central Tokyo’s Nishiazabu neighbourhood has been demolished.
The ‘Tagakicho House’ was built in 1968 and was a 2-storey reinforced concrete house with a basement. The total size of the house was 624 sqm (6,714 sq.ft). It was constructed by Takenaka Corporation - one of Japan’s biggest construction companies.Read more
Tokyo Apartment Sales in March 2016
The following is a selection of apartments that were sold in central Tokyo during the month of March 2016:Read more
Historic residence in Ichigaya to be partially demolished
A 88-year old traditional Japanese residence in the Ichigaya neighbourhood in Shinjuku will be partially demolished. The house was built in 1928 as a residence for a wealthy shipping industry magnate from Toyama Prefecture. It was designed by architect Tetsuro Yoshida, an architect for the Ministry of Communications.
The 2-storey, 582 sqm house sits on a 3,837 sqm landscaped block of land. It includes a blend of both traditional Japanese and western styles, and is one of the few remaining large pre-war homes in Tokyo.Read more
Japan's commercial land prices increase for first time in 8 years
For the first time in 8 years, commercial land prices in Japan saw an increase from the previous year. According to the 2016 ‘chika-koji’ assessed land values released by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the nationwide commercial land price increased by 0.9% from 2015.
In the Tokyo metropolitan area, commercial land values increased by 4.1% in 2016, up from a 2.9% increase in 2015.
The increase can be attributed to improving office conditions in city centres, and a surge in construction of hotels to meet the growing number of foreign tourists. Read more
Average apartment rent in February 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,528 Yen/sqm in February, down 1.5% from the previous month and down 3.7% from last year. The share of rental listings in the Tokyo metropolitan area dropped by 6 points from the previous month, which may have contributed to the lower rent. The average apartment size was 59.98 sqm and the average building age was 19.9 years.
In the Tokyo metropolitan area, the average rent was 3,161 Yen/sqm, up 1.1% from the previous month and up 3.0% from last year. The average apartment size was 56.33 sqm and the average building age was 17.7 years.
In Tokyo’s 23 wards, the average rent was 3,309 Yen/sqm, up 0.9% from the previous month and up 3.4% from last year. The average apartment size was 55.75 sqm and the average building age was 17.2 years.Read more
The most expensive homes for sale in Tokyo
Let's take a quick look at the most expensive homes currently advertised for sale in Tokyo:
 |
|---|
| SOLD Location: Minami Aoyama, Minato-ku House: 7-Bedrooms, 4 Bathrooms, 630 sqm (6,779 sq.ft) *A 10 minute walk from Omotesando Station. |