December rental data - Tokyo Kantei

According to Tokyo Kantei, the average rent of a condominium apartment in greater Tokyo was 2,536 Yen/sqm in 2013. This is the first time in 4 years that the average annual rent has seen an increase.

In 2012, the average rent in Tokyo's 23-ku was getting close to falling below 3,000 Yen/sqm, but by 2013 it began to climb upwards again. Rents in surrounding cities have remained relatively stable over the past few years. Osaka and Kobe City have seen an increase in new apartments hitting the market in 2012~2013, which has pulled up the average rent.Read more

by Zoe Ward

Tokyo office market in 2014

In 2014, the total office space expected to hit the market could amount to just half of the level seen in 2012. Meanwhile, vacancy rates are expected to continue their decline this year as companies shift to new offices and expand operations.

According to Miki Shoji, approximately 844,700 sqm of new office space is expected to be supplied in Tokyo's central five business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) in 2014. This is a 4% increase from 2013, but is only half of the level seen in the last peak in 2012. Read more

by Zoe Ward

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

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in January was 5.8%, down 0.2 points from December. The average yield across Tokyo was 7.5%, down 0.1 points from the previous month.

The vacancy rate remains unchanged at 9.9% in Minato-ku and 11.0% across Tokyo.

The average asking price of a secondhand apartment in Minato-ku was 738,929 Yen/sqm as of January 1, up 3.27% from the previous month. The average asking price for land was 839,050 Yen/sqm, down 21.7% from the previous month. Read more

by Zoe Ward

Takashimaya to acquire two stores in Tokyo

Takashimaya Times Square
Takashimaya Shinjuku Store / Takashimaya Times Square

Takashimaya announced that they will acquire the remaining share in the Takashimaya Shinjuku Store from Tokyu Land for 105 billion Yen. There are also plans to acquire full ownership of the Tachikawa Takashimaya building and land from the Mitsubishi UFJ Trust and Banking Corporation for 12 billion Yen. Takashimaya already owns part of these properties through  a subsidiary.Read more

by Zoe Ward

Secondhand apartment prices in November - 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 40,610,000 Yen in November, down 0.1% from the previous month but up 3.4% from last year. The average apartment age was 20.6 years.

In central Tokyo's six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment price was 54,690,000 Yen, up 0.2% from the previous month and up 6.7% from last year. The average apartment age was 20.9 years.Read more

by Zoe Ward

November rental apartment transactions - AtHome

According to AtHome, 18,415 apartment rental contracts were signed in greater Tokyo in November, down 1.7% from the previous year. In Tokyo's 23-ku, however, the number of contracts increased by 0.9% to 8,415. Read more

by Zoe Ward

Shibuya City Office redevelopment to include new apartments

Shibuya City Office

The redevelopment of the ageing Shibuya City Offices will include a 37-storey apartment building with 414 apartments.

Part of the development site will be leased to a developer on a 70-year term. The revenue from the leasehold is expected to cover the costs of the city office redevelopment. Five developers are bidding for the project, and the final decision will be made in the next few months.Read more

by Zoe Ward