Curious how a view of Tokyo Tower affects apartment prices?
It should come as no surprise that an apartment with views towards Tokyo Tower comes with a higher price. Although it no longer functions as a television transmission tower (those duties ended in 2018), it is perhaps the most admired landmark in Tokyo.
Marunouchi’s first high-rise to be demolished
Another building by an iconic architect is destined for the wrecking ball. This time it is the first high-rise to have been built in the Marunouchi business district in front of Tokyo Station.
Poorly managed apartment buildings of concern in Tokyo
Apartment buildings do not magically care for themselves. They require the apartment owners to be proactive about ensuring regular maintenance and repairs are carried out. By doing so, a building can last a long time while also helping with the resale values of those apartments. A poorly maintained building can become unpleasant to live in and resale values can plummet.
Quick real estate news summary for the week
Tokyo house prices increase by 9.2%, office vacancies climb for 14th month, and 68 major developments planned for Tokyo. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
MUFG to rebuild Marunouchi HQ
MUFG Bank is planning to redevelop their headquarter building in Tokyo’s Marunouchi district. Plans are expected to be firmed up by 2022 with a construction schedule to be announced at a later date.
Firms accelerate sales of real estate holdings
As anticipated, some of Japan’s major corporations are fastening the sell-off of their prime real estate holdings as the effects of the pandemic continue. Finding buyers for these key assets is easy, with worldwide monetary easing seeing wealthy funds on the hunt for real estate in safe and stable environments.
Quick real estate news summary for the week
OYO sells short-term letting unit, New World resort for Niseko, and DeNa moves into WeWork. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.