160m tall apartment tower for northern side of Atago Green Hills
Atago Green Hills will be getting a new 160-meter-tall apartment tower in the coming years. This project will potentially see a 43-story high-rise on a 2,910 sqm site. Completion could be sometime in the early 2030s.
46 listed companies dispose of real estate in first half of 2022
A total of 46 TSE listed companies reported the sale of domestic real estate holdings in the first half of 2022 (April-September), with Tokyo Shoko Research estimating that the annual number could reach a 15-year high of 100 companies.
Apartment asking prices in Tokyo increase for 28th month in a row
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in Tokyo’s 23 wards reached 69,710,000 Yen in October, up 0.6% from the previous month and up 7.8% from last year. This is the 28th month in a row to see a month-on-month increase. The average building age was 27.6 years.
New subway line for Tokyo announced
A new subway line linking Tokyo Station with the islands on Tokyo Bay could be up and running by the late 2040s, with the governor of Tokyo officially announcing the project on November 25. This would be the newest subway line in Tokyo since the opening of the Fukutoshin Line in 2008.
Autumn sales sees contract ratio return above 70%
Autumn sales season kicked off last month with 2,768 brand-new apartments released for sale across greater Tokyo, a 36% increase from the previous month and a 34.7% increase from last year.
Central Tokyo's population hits record high in October
The year-on-year rate of population growth in central Tokyo has been improving in 2022. During the pandemic, the population of Japanese residents in the central three wards of Minato, Chiyoda, and Chuo, remained stable as remote work failed to have the same impact Tokyo that it did in other international cities.
Tokyo’s rents increase for first time in 6 months
The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,820 Yen/sqm in October, up 0.6% from the previous month. This is the first month-on-month increase in 6 months. Rents are down 0.3% from last year.