[Foreclosed] Mita Tsunamachi Park Mansion 15F

Court Evaluation: 70,000,000 Yen

*Update: The winning bid was 80,300,000 Yen. A total of 4 bids were made on the apartment and the winning bidder was a private individual.

This 2-bedroom apartment in Mita Tsunamachi Park Mansion is up for public auction. The building was developed by Mitsui and was Japan's first high-rise apartment development. The 15th floor corner unit overlooks the greenery of the Mitsui Tsunamachi Club grounds and also has views of Tokyo Tower. Because of its views, it was valued at 5% higher than apartments facing other directions. Carparking and a storeroom is included.Read more

by Zoe Ward

Historic lodging house "Hongokan" to be demolished in August

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Built in 1905, Hongokan is Japan's oldest 3-storey wooden lodging house. The L-shaped building has approximately 70 rooms and a total floorspace of 1500 sqm which is very large in scale for a wooden structure.

It was built by an aristocratic family from Gifu Prefecture and was initially used as a boarding house for the Tokyo Girl's Highschool (now known as Ochanomizu Women's College), but soon became a high-grade lodging house that provided luxury accommodation.Read more

by Zoe Ward

Tokyo's second-hand apartment prices down 4.2% from 1 year earlier

The Real Estate Information Network for East Japan (REINS) announced the results of their data collection on real estate movements for the Tokyo area for the month of June, 2011. The data is based on property listings registered on the REINS multiple listing database.

The total number of units listed for sale in the greater Tokyo area on the secondary market surpassed 40,000 units. The total of 40,016 units was an increase of 2.6% from May, and a very large increase of 31.3% compared with June, 2010. Tokyo had a total of 22,950 units, Saitama had 4004 units, Chiba had 3451 units and Kanagawa had 9611 units listed with the REINS database.Read more

by Zoe Ward

Miyashita-cho Apartment site redevelopment tenders open to public

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Tokyo City announced plans to redevelop 3 sites with a total size of 2.6 hectares just minutes from Shibuya Station. The 3 city-owned blocks of land include the 0.5 hectare site of the former Miyashita-cho Apartment block (Shibuya 1-23), a former school hall site of 0.4 hectares next to Mitake Park (Shibuya 1-18) and the 1.7 hectare site of the former Aoyama Hospital behind the UN University Bldg (Jingumae 5-53). Tenders will be open to the public from Summer, 2011.Read more

by Zoe Ward

Tokyo Bayside Condominium Market - From Boom to Bust

Three months have now passed since the Tohoku Earthquake and Tsunami. The affected areas of Tokyo Bay are seeing a growing disparity between the desired purchase and selling prices of condominiums on the secondary market.

Difference of 10 million Yen between buyers and sellers

Buyers are anticipating a huge slump in prices for bayside apartments. On the other side, sellers are still hoping to sell their apartments at pre-earthquake values - a time when the bayside areas were seeing huge rises in popularity.Read more

by Zoe Ward

Land values in central Tokyo increased as much as 70% since 2000

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Land values in prime central Tokyo area have typically increased over the past 10 years. In some areas the increases have been as high as 71%.

Despite the Lehman Shock in 2008 where land prices have fallen, land values in 2010 are higher than they were in 2000.Read more

by Zoe Ward

Average Price of an Apartment in Shibuya-ku, February 2011

The following price guide is based on current real estate listings for apartments in Shibuya-ku, Tokyo. Actual prices vary depending on factors such as age, location, distance to station, views and so on.Read more

by Zoe Ward