Land prices rise in majority of areas - MLIT LOOK Report
According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) the majority of survey locations for their quarterly Chika LOOK Report have recorded an increase in land prices.
Land price movements were measured in 150 locations throughout Japan, but primarily in the three major cities of Tokyo, Nagoya and Osaka. 80 of those locations, or 53% of the total, recorded an increase in land prices, while 51 saw no change in prices. The remaining 19 locations saw prices fall somewhere between 0 and 3%.Read more
Tepco to sell off 70 ~ 80% of their real estate assets
As Tepco's financial situation worsens rapidly, they are being forced to sell off more real estate in order to pay for the growing compensation to victims of the nuclear power plant disaster.
In September 2011, Tepco began selling off some of their large real estate holdings. The real estate included company dormitories and retreats. So far, Tepco has sold 40 properties for a total value of 6 billion Yen (75 million USD).Read more
Grosvenor purchases Roppongi Arents
Grosvenor, an international property development group, announced that they purchased Roppongi Arents from Japan Tobacco in October 2011. JT had listed the building for sale at the end of 2010.
Roppongi Arents is a luxury residential apartment building built in 2003. The 4400 sqm site adjoins the Roppongi Hills development. Apartments range in size from 88.45 to 288.77 sqm (951 ~ 3107 sqft) and can be rented for between 470,000 and 2,200,000 Yen/month.Read more
[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
Historic lodging house "Hongokan" to be demolished in August
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