April rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,637 Yen/sqm in April, up 1.4% from the previous month and up 4.4% from April 2013. The average apartment size was 59.28 sqm and the average building age was 18.1 years.Read more

by Zoe Ward

New apartment supply in April down 40%

According to the Real Estate Economic Institute, 2,473 new apartments were released for sale across greater Tokyo in April, down 46.7% from March and down 39.6% from April 2013. This is the third month in a row to see a year-on-year drop in the supply of new apartments.

1,848 apartments were sold, making the contract rate 74.7%. This is 5.1 points lower than the contract rate in March and 3.5 points lower than last year. Meanwhile, 2,785 secondhand apartments were sold during the month, down 30.3% from March and down 10.7% from last year. Read more

by Zoe Ward

Briton arrested for running illegal lodgings in Tokyo

Adachi Illegal Hotel

A British expat was arrested on May 16 for operating a short-stay hotel without a proper license. The 28-year old wanted to offer cheap accommodation for foreign tourists and rented out rooms and bunk-beds in a share-house in Adachi-ku.Read more

by Zoe Ward

Secondhand apartment transactions drop 30.3% in April but prices continue to rise

According to REINS, 2,785 secondhand apartments were sold across greater Tokyo in April, down 30.3% from the previous month and down 10.7% from April 2013. 

While the number of transactions saw a steep drop, actual sale prices have continued to increase. The average sale price across greater Tokyo was 26,880,000 Yen, up 0.9% from the previous month and up 5.2% from last year. The average price per square meter was 424,000 Yen, up 1.8% from the previous month and up 7.7% from last year.Read more

by Zoe Ward

Groundbreaking ceremony for Japan’s first 60-storey apartment building

Nishi Shinjuku 60 Storey Apartment Tower 1

Developers of a 60-storey apartment building in Shinjuku held a groundbreaking ceremony on May 12.

The high-rise condominium will be the tallest apartment building in Japan (based on the number of floors) when complete in 2017. At 208.97m tall, it will be just 43cm shy of the tallest apartment building in the country - The Kitahama in Osaka.Read more

by Zoe Ward

Residential yields and vacancy rates in Minato-ku - May 2014

Tokyo apartment yields May 2014

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in May was 5.3%, down 0.1 points from April. The average gross yield across Tokyo was 7.1%, down 0.1 points.Read more

by Zoe Ward

Tokyo’s bayside apartment market is boiling, but for how long?

The Parkhouse Harumi Towers 1

The brand new high-rise apartment market in Tokyo’s bayside area has caught Olympic fever. Development of large-scale condominiums and other infrastructure projects are speeding up, as is demand from excited buyers.

The man-made islands saw a sharp drop in popularity following the 2011 Tohoku disaster when the earthquake caused liquefaction on some islands and left a lot of residents trapped in their apartments or trapped in the lobbies after elevators shut down. The risks of living on reclaimed land were quickly forgotten as soon as it was announced that Tokyo would host the 2020 Summer Olympics and Harumi would host the Athlete’s Village.Read more

by Zoe Ward