Tokyo apartment discounts in September
The median discount on an existing apartment sold in Tokyo’s 23 wards in September dropped to 1.32%, down 0.41 points from last year. Discounts were highest in the sub-30 million Yen price range, with a median of 2.07%, and lowest in the 50 ~ 100 million Yen price range with a median discount of 0.87%.
Japan’s tallest wooden high-rise to be built in Nihonbashi
Mitsui Fudosan and Takenaka Corporation are planning to build a 17-story wood-frame office tower in Tokyo’s Nihonbashi district. With a proposed height of 70 meters, this would be the tallest wooden building in Japan.
Tokyo Apartment Sales in September 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2020:
Shuwa Aoyama Residence redevelopment to start in 2021
Nomura Real Estate Development and Asahi Kasei Realty & Residence have received official approval from Shibuya City Council for the formation of the redevelopment committee for the 56-year old Shuwa Aoyama Residence condominium.
Standard Land Prices dip for first time in 3 years
The nationwide standard land price, announced yesterday, dropped for the first time in three years. The average across all land uses recorded a 0.6% decrease in 2020, after a 0.4% increase in 2019. In 2018, the nationwide average increased for the first time since 1991.
180m tall office tower planned for Toranomon Station area
Nippon Tochi-Tatemono, Urban Renaissance Agency, and Sumitomo Realty & Development are embarking on a 180-meter tall office tower project for the Toranomon district in central Tokyo.
New apartment supply drops 8% from last year
According to the Real Estate Economic Institute, the supply of brand-new apartments released for sale across greater Tokyo in August dropped 8.2% from last year to 1,669 units. This time last year saw the release of several hundred apartments in the Harumi Flag Athlete’s Village conversion project on Tokyo Bay.