Shinagawa Development Project to be completed by 2024

October 3, 2018Shinagawa,Shinagawa Development ProjectNew Construction,Office/Retail News & Information,Real Estate News,All,Hotel News,Tokyo

On September 25, East Japan Railway Company (JR-EAST) published the details of their large-scale redevelopment plans for a 9.5 hectare site on the western side of the new station on Tokyo’s JR Yamanote Line between Shinagawa and Tamachi Stations.Read more

by Zoe Ward

Japan's apartment price to income ratio increases again

October 2, 2018Real Estate News,Market Information,All,Tokyo

According to Tokyo Kantei, the average price of a brand-new apartment across Japan was 7.81 times the average annual income in 2017, up 0.34 points from 2016 and exceeding the previous high of 7.64 seen in 1992. A total of 28 prefectures saw affordability of brand-new apartments worsen in 2017, up from 22 prefectures in 2016. In Kanazawa City, the supply of high-priced new condominiums pulled up the average for Ishikawa Prefecture to a multiple of 8.37, up 3.52 points from 2016.Read more

by Zoe Ward

Tokyo Apartment Sales in September 2018

October 1, 2018Real Estate News,Market Information,All

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2018:Read more

by Zoe Ward

Tokyo apartment asking prices in August 2018

September 28, 2018Real Estate News,Market Information,All,Tokyo

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,400,000 Yen in August, up 0.2% from the previous month and up 2.1% from last year. The average building age was 23.9 years.Read more

by Zoe Ward

What our job involves when working with foreign clients

September 27, 2018Property Purchasing Guide,All

When working with expat or non-resident clients on real estate deals in Japan, the process can easily take 3 times as much time and effort when compared to a domestic Japanese client. There are only small number of real estate agencies in Japan that are truly well versed in working with foreign clients. For the majority of domestic-oriented agencies, foreign clients are often seen as being too challenging and involving too much hassle. We often encounter local listing agents that have no experience with transactions involving a foreign buyer, so it is our job to assure them that the transaction can go as smoothly as it would be with a local Japanese buyer.Read more

by Zoe Ward

Nagano's ski resort divide

September 26, 2018Japan Ski ResortsReal Estate News,Market Information,All

While Nagano’s urban areas are seeing a slowing in the rate of decline in land prices, one district in the prefecture is seeing no end to eroding land values.

The Hirao district in Yamanouchi Town, known for being home to the Jigokudani Monkey Park and several ski areas, is also home to the steepest drop in both commercial and residential land values in the prefecture.  According to the Standard Land Prices issued by the Ministry of Land, Infrastructure, Transport and Tourism, the rate of decline at several survey locations in Hirao worsened in 2018. Land values dropped by between 2 ~ 4% in 2018. In some locations land prices have declined year-on-year since the late 1990s. Read more

by Zoe Ward

Two minpaku companies in Kyoto busted for illegal short-term letting

September 25, 2018minpakuReal Estate News,All,Kyoto

This month, two companies that both specialize in operating short-term Airbnb-style letting, have been issued cease-and-desist orders from Kyoto City for providing accommodation without the required licenses or permissions. These are the first crackdowns in Japan since the new short-term accommodation law was introduced on June 15, 2018. Hosts found operating illegally now face fines of up to 1 million Yen (approx. 8,900 USD).Read more

by Zoe Ward