Historic Harajuku Station building to be demolished
On November 19, JR-East announced that they will be demolishing the historic Harajuku Station building after the 2020 Summer Olympics. Built in 1924, this is the oldest surviving wooden station building in Tokyo.
New apartment supply in October hits lowest level on record
The supply of brand-new apartments released for sale across greater Tokyo in October dropped 29.5% from last year to just 2,007 units. This is the lowest level seen for the month of October since the Real Estate Economic Institute began recording data in 1973.
Shrine in Enoshima up for foreclosure auction
A Shinto shrine on Enoshima Island is up for foreclosure auction next month with a minimum bid set at 46.8 million Yen (approx. 430,000 USD).
100-yr old building to be converted into hotel
Heiwa Real Estate is in the process of converting a 100-year old office building in Nihonbashi into a small luxury hotel. The new hotel is scheduled to open next February.
Sapporo sees drop in vacant homes for first time
The number of vacant homes in Sapporo City is on the decline. In 2018, the Ministry of Internal Affairs and Communications reported 125,400 vacant homes and apartments within the city, resulting in a ratio of 11.9%. This was the first year since 1993 to see a decline. What is causing it?
Apartment prices along Tokyo’s Chiyoda Line in 2019
The southern half of the Chiyoda Subway Line runs through some of the most expensive real estate in Tokyo, including Harajuku, Omotesando, Akasaka, and the Otemachi/Marunouchi business district.
According to Tokyo Kantei, the average price of a second-hand apartment alongside this train line was approximately 929,000 Yen/sqm in 2019, showing no change from last year. The average apartment size was 57.82 sqm and the average building age was 23.7 years.
Tokyo second-hand apartment sale prices increase for 9th month in a row
Total second-hand apartment sales in the Tokyo metropolitan area dropped 6.5% from last year to 1,421 units in October. This was the first year-on-year decrease seen since February.
According to REINS, the average sale price was 716,700 Yen/sqm, up 1.4% from the previous month and up 5.9% from last year. This is the 9th month in a row to see a year-on-year increase.