Tokyo City Hall facing 76 billion Yen repair bill

Tokyo Metropolitan Government BldgThe 22-year old Tokyo Metropolitan Government Building (aka Tokyo City Hall or 'Tocho') in Shinjuku is facing a large-scale maintenance and repair bill estimated to cost 76.2 billion Yen (approximately 783 million USD).

Designed by architect Kenzo Tange, the government building was completed in 1991 at a cost of 156.9 billion Yen. The 243m tall building was once the tallest in Japan. Read more

by Zoe Ward

Akasaka 1 Chome Redevelopment to begin in January

Akasaka 1 Chome Redevelopment 1Nippon Steel Kowa Real Estate have received approval from the governor of Tokyo to convert the ownership rights as part of their Akasaka 1 Chome Redevelopment.

The 16,000 sqm site is adjacent to Tameikesanno Station and across the street from the US Embassy in Akasaka. The project was approved in August 2012.

Demolition of the existing buildings is expected to begin in January 2014 with construction starting in August. Completion is expected by April 2017.Read more

by Zoe Ward

Chongryon HQ's second auction to be held in October

Chongryon-TokyoThe Chongryon headquarters and North Korean de-facto embassy building and land in Chiyoda-ku will be put up for public auction in October after the bidder from the first auction was unable to go through with the purchase.

Bidding is open from the October 3 to 10 and bids will be opened on October 17. The minimum bid is 2.134 billion Yen (21.7 million USD) and a deposit of 533.6 million Yen (5.4 million USD) is required to bid. Read more

by Zoe Ward

Secondhand apartment prices in August - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 40,340,000 Yen in August. This is an increase of 1.2% from last month and 2.8% from August 2012. It is also the first time since March 2012 that the price has exceeded the 40 million Yen mark.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price in August was 53,870,000 Yen, up 1.1% from last month and up 5.2% from last year. The average apartment age was 21 years.  Read more

by Zoe Ward

482 apartments sold in Tomihisa Cross, Shinjuku

Although the building won't be ready to move into for another two years, all 482 apartments released in the first round of sales in Tomihisa Cross Comfort Tower sold out instantly during the initial sales period in mid-September.

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by Zoe Ward

August rental data - Tokyo Kantei

The average monthly rent of a condominium apartment in greater Tokyo in August was 2,549 Yen/sqm, up 0.6% from last month and up 3.3% from last year. The average apartment size was 59.35 sqm (639 sqft) and the average apartment age was 18.7 years.

The average rent in Tokyo's 23-ku was 3,096 Yen, down 1 Yen from last month but up 3.3% from last year. The average apartment size was 56.13 sqm (604 sqft) and the average age was 17.4 years.Read more

by Zoe Ward

New development in Kachidoki to have over 3,000 apartments

Kachidoki East District Redevelopment 1The proposed Kachidoki East District Development on the man-made island of Kachidoki in Tokyo Bay will have over 3,000 apartments when completed, making it the largest residential project in Japan.

The development includes three residential towers with a total of 3,020 apartments. This will be larger in scale than the nearby 'The Tokyo Towers' which has 2,794 apartments. Read more

by Zoe Ward