Japan’s high-rise apartment market from 2020 to 2024 onwards
There are currently 103,100 apartments in 258 high-rise buildings planned for completion across Japan from 2020 onwards, however, the coronavirus pandemic and nationwide state of emergency declared in April 2020 may see some construction projects delayed as a result. This is an increase of 8,009 apartments and 27 buildings from the previous report issued by the Real Estate Economic Institute in March 2019.
Tokyo Apartment Sales in April 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of April 2020:
Population in Chuo, Tokyo, reaches 66-year high
As of April 27, the population of Chuo Ward in central Tokyo reached 172,000 residents - the highest level since 1953.
90% of real estate companies now feeling effects of coronavirus
Over 90% of real estate companies are now reporting that the coronavirus pandemic is affecting their business activities. This is a 20 point increase from a previous survey carried out in early March.
Oldest merchant house in Kanto region demolished
Demolition of the Mizumura Residence in Kawagoe, Saitama, started on April 24. Built in the 1700s, this is said to have been one of the oldest surviving machiya townhouses in the Kanto region.
Daiwa House offering 3-month rent deferment to 500,000 tenants
On April 22, Daiwa House announced that they will be offering a three month rental-deferment plan to approximately 500,000 of their residential tenants. The company understands that tenants may be struggling with finances due to the economic impact of the global coronavirus pandemic and is offering this without the need for tenants to prove any proof of loss in income.
Japan’s largest hotel to house coronavirus patients
On April 10, hotelier APA Hotels & Resorts announced that the APA Hotel & Resort Yokohama Bay Tower will be leased out to Kanagawa Prefecture provide beds for coronavirus patients with light or no symptoms. The 37-story hotel is located on the Yokohama waterfront. With 2,311 rooms, it is the largest hotel in Japan based on room count.