Kengo Kuma to design new Shibuya Station area

On June 17, Tokyu Corporation and JR announced that internationally renowned architectural firm Kengo Kuma and Associates will be designing part of the new Shibuya Station area redevelopment.Read more

by Zoe Ward

MLIT Land White Paper 2013

On June 11, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the data from their 2013 White Paper on Land.

According to the report, land prices continue to fall across Japan although the rate of decline is shrinking. A greater number of survey locations saw an increase or stabilisation of land prices.Read more

by Zoe Ward

Average apartment rent in May

According to Tokyo Kantei, the average monthly rent of an apartment in greater Tokyo in May increased by 0.1% from last month to 2,530 Yen per square meter. In Tokyo City, the average monthly rent in May was 2,979 Yen/sqm, up just 1 Yen from last month, but 2.2% higher than it was in May 2012. The average rent in Tokyo's 23 wards was 3,086 Yen/sqm, up 0.1% from last month and 2.2% from last year.Read more

by Zoe Ward

New apartment prices in Tokyo up 4% in May

According to the Real Estate Economic Institute, the market for new condominiums in Tokyo is showing signs of improvement as sales numbers and prices increase in May.

A total of 4,967 new apartments were released for sale in May, up 49.2% from May 2012 and up 21.4% from the previous month. The contract rate (the number of new apartments sold as a percentage of the total number for sale) was 78.1%, which is above the 70% indicator of a good market. The contract rate for apartments in high-rise buildings above 20 stories was 84.6%.Read more

by Zoe Ward

Sumitomo announces new high-rises for Harumi

Sumitomo have announced the name of their high-rise condominium project in Harumi, Chuo-ku. 'Deux Tours Canal & Spa' will be two 51-storey residential towers with 1,450 apartments.

The 1 ~ 4-bedroom apartments will range in size from 44.67 to 123.77 sqm (480 ~ 1331 sqft). Sales are scheduled to begin at the end of November 2013. The buildings will be complete in September 2015, and ready to move-into by March 2016.Read more

by Zoe Ward

Central Tokyo apartment prices up 10.2% over 12 months

According to REINS, the number of second-hand apartment sales in Tokyo City in May were up 41% from May of last year. Sales of second-hand houses were up 6.6%.

A total of 1,530 second-hand apartments and 273 second-hand houses were sold in Tokyo last month. Read more

by Zoe Ward

Residential yields and vacancy rates in Minato-ku - June 2013

According to listing site Homes, the average yield on an apartment in Minato-ku as of June 2013 was 7.22%. The average yield across Tokyo was 8.3%. The vacancy rate was 9.9% in Minato-ku and 11.0% across Tokyo.Read more

by Zoe Ward