Onsen, retail and event space planned for Shimokitazawa Station area
Odakyu Electric Railway has released their development plan for the newly freed space above the underground section of railway that runs between Yoyogi Uehara and Umegaoka Stations.
Tokyo Apartment Sales in September 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2019:
Ebisu most popular neighborhood for 5th year in a row
Ebisu has topped the ranking of the most desirable neighborhoods in Tokyo for the 5th year in a row. The annual survey is published by Major 7 and based on data collected by Japan’s seven top developers.
Supply of investment-grade apartments drops 30%
According to the Real Estate Economic Institute, a total of 71 brand-new investment-grade apartment buildings containing 3,196 units were released for sale across greater Tokyo in the first half of 2019. This is a 23.7% drop in the number of buildings and 30.9% drop in the number of units from the first half of 2018.
Regional commercial standard land prices increase for first time in 28 years
In 2019, Standard Land Prices for commercial land in Japan’s regional areas recorded a 0.3% increase - the first time positive growth has been seen since 1991.
New apartment supply up 21% in August
According to the Real Estate Economic Institute, 1,819 brand-new apartments were released for sale across greater Tokyo in August, up 21.1% from last year. This is the first time in eight months to see a year-on-year increase in supply. The boost in supply was largely attributed to the first round of sales in the Harumi Flag Athlete’s Village, which saw 600 apartments up for sale.