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.
Aoyama Asia Mansion being redeveloped
Asahi Kasei Realty & Residence Corporation and World Residential Co. are starting work on the redevelopment of the former Aoyama Asia Mansion in Shibuya this month. The 5-story, 60-year old condo was demolished in 2020 and will be replaced with a 14-story apartment tower.
Tokyo Apartment Sales in April 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of April 2021:
Quick real estate news summary for the week
UR acquires hotel in Harumi, LG sells office floor, and telework take-up sits at just 20%. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Former Hotel Pacific to be demolished
The mixed-use and oddly-named Shinagawa Goos building on the western side of Shinagawa Station officially closed its doors on March 31, ending 50-years of operations.
New apartment price/sqm in 2020 hits 30-year high
According to the Real Estate Economic Institute, the total number of brand-new apartments released for sale across greater Tokyo in 2020 increased for the first time in 3 years. 29,032 apartments were supplied, up 1.7% from 2019.
Iconic Nakagin Capsule Tower's final curtain call as decision made to sell
The iconic Nakagin Capsule Tower building in Ginza is reaching the final stages of its saga as the capsule owners have voted in favor to sell off the building and land leasehold rights. The few remaining residents will move out in the coming weeks, leaving the dystopian landmark empty and awaiting an uncertain fate.