New apartment supply across greater Tokyo drops for 3rd month

According to the Real Estate Economic Institute, a total of 3,337 brand new apartments were released for sale across greater Tokyo in March, up 43.3% from the previous month but down 7.7% from last year. This is the third month in a row to see a year-on-year decline in supply.

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For Sale: Yoshimura Junzo-designed house in Tokyo

Price: SOLD

This is a compact urban home designed by Yoshimura Junzo (1907-1997). Yoshimura got his start working at Antonin Raymond’s office before being transferred to Pennsylvania in 1940 for two years. He established his own architectural office after returning in the 1940s. His past clients have included the Rockefeller family and the Imperial Household. Yoshimura is one of Japan’s great modernist architects and his homes are often sought-after by collectors.

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Traditional merchant residence in Gifu to be converted into boutique hotel

Work is well underway on the conversion of a historic and traditional residence in Gifu into a boutique hotel. The former Matsuhisa Residence was built 100 years ago by the operator of a successful wholesaler of Japanese paper materials. The residence was designed to accommodate guests and customers during the Meiji and Taisho eras. The two-story sukiya-style wooden house with tiled roof has a total of 12 tatami rooms, a tea room, and four warehouses. The buildings sit on 2400 sqm of land.Read more


80% of sellers/buyers not choosing home inspections

According to a survey carried out by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in the first half of 2018, only 18% of transactions involved home inspections. 

Between April and September 2018, a total of 5,932 home inspections were carried out across Japan. A total of 12,904 inspections were forecast for the year, almost double the number seen in 2017. Still, this amounts to less than 8% of the 169,000 existing home sales on an annual basis.

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280-yr old Inn to be demolished

[Left] The Tominagaya Inn in 1940; [Right] Today.

The owner of a 280-year old Inn in Muko City, Kyoto, has made an inevitable but unfortunate decision to demolish the historic property as maintenance becomes too costly. 

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Central Tokyo apartment sale prices reach 2nd highest level

According to REINS, 4,117 second-hand apartments were reported to have sold across greater Tokyo in March, up 18.2% from February and up 7.8% from last year. This is the 3rd month in a row to record a year-on-year increase in transactions. The average sale price was 34,900,000 Yen, up 0.3% from the previous month and up 3.6% from last year. The average price per square meter was 539,600 Yen, up 1.3% from the previous month and up 3.6% from last year. 

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91-yr old machiya in Nihonbashi converted into event space

A Tokyo-based real estate company has acquired a 91-year old townhouse in Tokyo’s Nihonbashi district with plans to refurbish it into an event space. Reservations will start from April 15. 

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