Shoto Governor’s Residence sells for 4.3 billion Yen
The former Tokyo Governor’s Residence in Shibuya’s high-end Shoto neighbourhood has been sold to Sumitomo Realty & Development for 4.368 billion Yen (36 million USD), or approximately 1,968,000 Yen/sqm based on the land size.
The residence was offered for sale by the Tokyo Metropolitan Government via public bidding from December 15 ~ 19. Sumitomo and another major real estate company were the only two bidders. The second bidder had tendered approximately 4 billion Yen for the property.Read more
2020 Olympics Athletes Village Plans Revealed
The Tokyo Metropolitan Government announced the model plan for the 2020 Summer Olympics Athletes’ Village in Harumi, Chuo-ku, Tokyo.
There are plans for 22 residential buildings ranging from 14 ~ 17 stories. After the games, the apartments will be sold off as either rental apartment or condominiums. Two 50-storey high-rise apartment towers will also be built after the games, along with a school and retail facilities. A total of 6,000 apartments will be supplied.Read more
Secondhand apartment prices in November 2014 - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 43,300,000 Yen in November, up 1.7% from the previous month and up 6.6% from last year. The average building age was 22.3 years.
In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 61,280,000 Yen, up 1.8% from the previous month and up 12.0% from last year. The rate of increase has been expanding since August 2014. The average building age was 21.6 years.Read more
November rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,560 Yen/sqm in November, down 1.6% from the previous month but up 0.3% from last year. This is the first time in five months to see a month-on-month decline in rent. The average apartment size was 59.90 sqm and the average building age was 19.5 years.
The average monthly rent in Tokyo’s 23-ku was 3,199 Yen/sqm, down 1.1% from the previous month but up 2.8% from last year. The average apartment size was 56.76 sqm and the average building age was 17.7 years. Although rents across all areas within Tokyo have started to weaken, they are still hovering around the 3,200 Yen/sqm range.Read more
Tokyu Plaza Shibuya to be redeveloped
The Tokyu Plaza Shibuya building to the west of Shibuya Station will be demolished in 2015 and replaced with a larger mixed and retail development.
The 9-storey multi-tenant retail building, which was originally called the Shibuya Tokyu Building, opened in 1965. In celebration of its 50 year history, a number of stores will be holding special sales from January to March 2015, while some of the restaurants which have been in operation since the building opened will prepare special menu items. A temporary gallery with photos of the Shibuya area over the past five decades is also scheduled to open from the end of January.Read more
Central Tokyo apartment sale prices reach highest level in 7 years
According to REINS, 2,830 second-hand apartments were sold across greater Tokyo in November, up 6.6% from the previous month but down 9.3% from last year. This is the 8th month in a row to see a year-on-year decline. The average apartment sale price was 28,080,000 Yen, down 0.1% from the previous month but up 5.6% from last year. The average price per square meter was 441,500 Yen, up 1.4% from the previous month and up 7.1% from last year. This is the 23rd month in a row to see a year-on-year increase. The average building age was 20.04 years.
1,431 second-hand apartments were sold in the Tokyo metropolitan area, up 10.2% from the previous month but down 7.1% from last year. This is also the 8th month in a row to see a year-on-year decline. The average sale price was 34,080,000 Yen, down 2.0% from the previous month but up 5.2% from last year. The average price per square meter was 575,800 Yen, down 1.5% from the previous month but up 6.3% from last year. The average building age was 19.20 years.
In central Tokyo's 3 wards (Chiyoda, Chuo and Minato), the average sale price was 966,600 Yen/sqm, up 4.0% from the previous month and up 11.5% from last year. This is the highest price seen since January 2008 when prices were 991,900 Yen/sqm.Read more