Tokyo Apartment Sales in June 2018
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2018:Read more
Daikanyama retail to be replaced with residential building
La fuente Daikanyama, a low-rise retail complex in the heard of the Daikanyama district, will soon be demolished to make way for an apartment building. The retail mall will close in July 2018.Read more
Central Tokyo's population growth a strain on local governments and schools
Central Tokyo’s population growth forecasts are causing local governments to take a closer look at development guidelines in order to alleviate strains on schools and childcare facilities.
Koto ward has been struggling with a shortage of schools for many years. In 2002 they introduced a 1.25 million Yen levy per apartment, payable by developers, on apartment buildings with over 30 apartments, with the funds going towards the expansion or construction of schools. In 2018, the developer of a 1,200-unit complex donated a school site to the ward in lieu of the 1.5 billion Yen levy.
Nevertheless, Koto is not able to keep up with the apartment construction boom and growing population. Read more
Suginami to spend up to 1 billion Yen restoring historic home
Suginami Ward in Tokyo is budgeting up to 1 billion Yen for the restoration of the 91-year old Tekigaiso Villa. The traditional Japanese home was once the private residence of former Prime Minister Prince Fumimaro Konoe. The property, which includes 6,000 sqm of land and gardens, was acquired by Suginami in February 2014 for 3.1 billion Yen (approx. 30 million USD at the time).Read more
Tokyo apartment asking prices in May 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,320,000 Yen in May, up 0.8% from the previous month and up 1.7% from last year. The average building age was 23.7 years.Read more
Details released on planned redevelopment in Akasaka 7 Chome
More details have emerged of a possible high-rise apartment tower to be built in the Akasaka 7 Chome address. The Akasaka 7 Chome 2 District Redevelopment may include a 46-storey apartment building on the western side of the site with a maximum height of 157 meters, along with a 5-storey commercial/retail building on the eastern side of the site.Read more
Japan land prices increase in 91% of locations - highest share in history
According to the quarterly LOOK report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in the first quarter of 2018, land prices have increased in 91% of the surveyed locations. This is the first time the percentage has exceeded 90% in the history of reporting.
The main factors behind the rising land prices include positive conditions for the office market in central Tokyo, Osaka and Nagoya, major redevelopment projects, surging tourism numbers and expenditure, and strong demand for apartments that are close to transport. These factors are also encouraging investment into the office, retail, hotel and residential sector.Read more