Kyoto may have no surviving machiya townhouses by 2066
Kyoto’s traditional merchant townhouses (machiya, or kyo-machiya) form an integral part of the historic city’s charming streetscapes and culture, yet are being demolished at a shockingly fast pace.
Boutique hotel to open in 88-yr old building in Otaru
This month, Tokyo-based developer, Global Agents, will open a boutique hotel in a historic 1930s building in Otaru, Hokkaido. The UNWIND HOTEL & BAR Otaru will have hotel rooms ranging from 15 ~ 40 sqm (161 ~ 430 sq.ft), along with a banquet / dining hall. This is the company’s second UNWIND-branded hotel, with the first located nearby in Sapporo.
Mitsubishi & TBS to redevelop office towers above Akasaka Station
On January 30, Mitsubishi Estate and Tokyo Broadcasting System Holdings (TBS) announced the formation of business agreement for the redevelopment of the Kokusai Shin-Akasaka Buildings (East, West and Annex). These office towers are located just above Akasaka Station and across the street from Akasaka Biz Tower and the TBS TV Studios.
New owner for long-abandoned temple in Kyoto
On December 7, 2018, the Shinshu Otani-ha Buddhist movement announced that they were acquiring the former Ryotoku-ji temple in Kyoto City free of charge, and looking to find a new use for the property with the cooperation of Kyoto Prefecture.
New apartment supply in Tokyo drops for second month
According to the Real Estate Economic Institute, a total of 2,323 brand-new apartments were released for sale across greater Tokyo in February, up 22.3% from the previous month but down 6.7% from last year. This is the second month in a row to see a year-on-year decline in supply.
New housing starts down 2.3% in 2018
According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), there were 942,370 new housing starts across Japan in 2018, a 2.3% drop from 2017 and the second year in a row to see a decline.
40% stake sold in The Ritz Carlton Kyoto
The Sekisui House Reit has acquired 40% joint ownership of the trust beneficiary rights to the The Ritz Carlton Kyoto for 17.8 billion Yen (approx. 160 million USD). The sale took place on January 31 and the seller was the Reit's sponsor, Sekisui House.