JAPAN PROPERTY CENTRAL K.K.

150+ year old tea house discovered in Kyoto backyard

May 30, 2019Traditional Japanese Homes,KyotoDemolition,Historic Properties,All,Kyoto

Left: A current image of the tea house (via the Kyoto Shimbun). Right: An early photograph of the tea house supplied by Okubo's great-grandchild.

A tea house that once belonged to Okubo Toshimichi (1830-1878) has narrowly escaped demolition in Kyoto. The owner has temporarily suspended demolition while the tea house is carefully dismantled and stored. Due to its historical significance, Kyoto City is considering potential ways to relocate and reconstruct it.

by Zoe Ward

Abandoned hotel in Okinawa to finally be demolished

May 29, 2019Demolition,Okinawa,All,Hotel News

Demolition has started on an abandoned hotel and local eyesore adjacent to Okinawa’s Nakagusuku Castle that has been sitting idle for almost five decades. In a rare move for privately-owned property, the prefecture has taken charge of demolition due to the need for a careful investigation for any historic artifacts and to avoid harm to protected wildlife. Demolition is expected to be completed by March 2020, after which the land will be converted back to parkland.

by Zoe Ward

New apartment supply in Tokyo drops 40% and hits 27-yr low

May 28, 2019Japan real estate,japan real estate market,tokyo real estate,Tokyo real estate market,Japan Real Estate NewsReal Estate News,Market Information,All,Tokyo

The total supply of new apartments released for sale across greater Tokyo in April saw a year-on-year drop of 39.3% to just 1,421 apartments. This is the lowest supply seen for the month of April since 1992. The reason for the low supply is due to both developers putting their efforts towards selling current inventory, along with an expectation of low buyer turnout during the 10-day Golden Week holiday.

by Zoe Ward

Holiday home buyers drawn to Kyoto

May 27, 2019Japan real estate,japan real estate market,Kyoto,Kyoto Real Estate Market,Kyoto Real EstateReal Estate News,Vacation Homes,Market Information,All,Kyoto

Kyoto City is fast becoming a hotspot for out-of-towners buying holiday homes.

by Zoe Ward

Heritage-listed merchant house in Kyoto up for sale

May 24, 2019Traditional Japanese Architecture,Historic properties in Japan,Traditional Japanese Homes,Kyoto,Traditional Japanese Homes for Sale,Historic properties in Japan for sale,Traditional homes in Japan for sale,Historic Houses in Kyoto,Historic Houses in Kyoto for Sale,Kyoto Machiya for Sale,machiyaHistoric Properties,All,Kyoto

The heritage-listed Watanabe Residence in Maizuru City, Kyoto Prefecture, is listed for sale for 25,800,000 Yen (approx. 235,000 USD), leaving locals concerned about its fate. The 150-year old merchant house is registered as a Tangible Cultural Property.

by Zoe Ward

Price-earnings ratio across Tokyo sees slight increase in 2018

May 23, 2019Real Estate News,Market Information,All,Tokyo

In 2018 the price-earnings ratio (PER) for brand-new apartments in greater Tokyo was 24.96, down from a record high of 28.66 seen in 2016 but up slightly from 24.49 seen in 2017. Almost 80% of the districts around train stations had PERs of over 22, while just 2.5% had PERs of under 18. A high PER means a low rental yield.

The average price of a brand-new 70 sqm (753 sq.ft) apartment across greater Tokyo was 73,440,000 Yen in 2018, up 9.9% from 2017 and up 22.4% from 2016. The average rent of a similarly sized new apartment was 241,631 Yen/month, up 7.4% from 2017 and up 37.6% from 2016.

by Zoe Ward

Home fire insurance premiums to rise 5 ~ 9% this year

May 22, 2019Property Insurance in JapanAll

Japan’s big four insurance companies are planning to increase home insurance premiums from October this year. This will be the first increase since 2015 and is the result of large typhoons and heavy rainfall events in 2018 that saw large payouts.

by Zoe Ward