City struggling to protect crumbling historic home
A 99-year old historic residence in Hyogo Prefecture is close to collapse, leaving city officials struggling to find a way to protect it against the wishes of its owner.
The Ando Residence was built in 1919 near Okubo Station in Akashi City. The exterior walls of the home are built from stone, while the mansard roof has emerald-green glazed Spanish tiles. It was designed by architect Yutaro Kagoya (1876-1936). Kagoya specialized in repairing old shrines and temples before establishing his own architectural firm that designed homes. Some of his works included the Sarue Dojunkai Apartments (c1927) in Koto Ward, Tokyo (demolished in 1992), the Takushoku University main building (c1932) in Tokyo, and the Higashi Honganji temple in Asakusa (c1939).Read more
New apartment prices across greater Tokyo hit second highest level in history
The average price of a brand new apartment across greater Tokyo in the first half of 2018 has reached the second highest level seen in recorded history. According to the Real Estate Economic Institute, the average price was 59,620,000 Yen, exceeding the level of 59,350,000 Yen seen in the first half of 1990, but falling short of the peak of 64,500,000 Yen seen in the first half of 1991.Read more
Average apartment rents in Tokyo increase for 7th month
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,485 Yen/sqm in June 2018, down 0.3% from the previous month but up 5.9% from last year. This is the 7th month in a row to see a year-on-year increase. The average apartment size was 55.84 sqm and the average building age was 18.7 years.Read more
New apartment prices in Tokyo up 12.8% from last year
According to the Real Estate Economic Institute, 2,659 new apartments were released for sale across greater Tokyo in June, up 8.0% from the previous month and up 16.4% from last year. The average sale price was 62,440,000 Yen, up 3.5% from the previous month and up 10.7% from last year. The average price per square meter was 928,000 Yen, 3.7% from the previous month and up 10.5% from last year.Read more
Mori Trust to open Hilton-branded hotel and time-share resort in Okinawa in 2020
On June 26, Mori Trust started construction on a 300-room hotel on Okinawa’s Sesoko Island. The Okinawa Sesoko Project includes the main hotel, which will be operated by Hilton Hotels & Resorts, along with a time-share resort that will be sold to members in weekly units. The time-share resort will be operated by Hilton Grand Vacations.Read more
New minpaku law sees 98% of listings in Kyoto disappear
A month has passed since Japan’s new rules for home-sharing were introduced. Strict registration requirements have caused a large number of hosts to drop out of the market. In Kyoto City, the number of approvals sits at 47 as of July 13, a stark difference to the 3,000-plus lodgings that were operating beforehand.Read more
60-yr old office building in Tokyo to be renovated rather than redeveloped
Although Tokyo’s Marunouchi and Otemachi business district has been seeing multiple skyscrapers go up in recent years, one vintage building from the 1950s has been faithfully protected by its owner.
The 9-storey Otemachi Building built by Mitsubishi Estate in 1958 celebrated its 60th birthday this April. It served as their headquarters until last year when they moved across the street to the recently completed 140 meter tall Otemachi Park Building.Read more