3rd quarter apartment transactions reach historic high
Reported transactions of second-hand apartments across greater Tokyo in the third quarter of 2019 reached the highest level seen for this quarter since REINS began recording data in 1990.
Shibuya’s Silicon Valley status pushing rents to new highs
Thanks to its fast-growing status as Japan’s new tech center, Shibuya has outpaced Chiyoda as the most expensive office district in Tokyo.
New apartment price in Tokyo exceeds 60 million Yen for first time in 28 years
The average price of a brand-new apartment released for sale across greater Tokyo in the first half of 2019 (April ~ September) was 60,060,000 Yen, up 4% from last year. This is the first time in 28 years to see the average price exceed 60,000,000 Yen for the first half of a year. In 1991 it was 61,370,000 Yen.
Shibuya onsen to be converted into shared office space
An office conversion is planned for a long-shuttered spa and onsen building in downtown Shibuya. Shiespa, located 600 meters from Shibuya Station, opened in 2006 as a women-only spa and onsen. It closed its doors in August 2007 and has sat vacant ever since.
Kamakura has less than 1,000 hotel rooms
Despite welcoming over 20 million annual tourists, Kamakura, a historic beachside city an hour by train from central Tokyo, has a surprisingly small number of hotel rooms. The mountain resort town of Hakone, also in Kanagawa Prefecture, has the same level of tourists but as many as 8,000 hotel rooms. Kamakura has just 980.
Nara soy-sauce brewery to become boutique hotel
Nara-based Nanto Bank has set up a 1.5 billion Yen (approx. US$14 million) fund that will restore historic kominkas and convert them into tourist accommodation. Nara Kominka Machitsukuri Partners will start operations next month. The first project is a soy sauce brewery founded in the Edo period. The former storehouse will be converted into overnight accommodation.