A look at the demolition of the Grand Prince Hotel Akasaka
The demolition of the 140m tall Grand Prince Hotel Akasaka is underway with the building now standing at three-quarters of its original height.
The work is being carried out by a joint venture between Taisei Corporation and Seibu Construction using the 'Taisei Ecological Reproduction System' (Teco-Rep System). Assistant Director of Taisei's Construction Engineering Development Department, Mr. Hideki Ichihara, explains the process:Read more
Dai-ichi Life Insurance to invest in residential
The Dai-ichi Life Insurance Company has recently started investing in small-to-medium sized rental apartment buildings. According to Dai-ichi, insurance premiums collected from consumers are invested in government bonds, shares and acquiring office buildings.
Following the Lehman Shock, office rents dropped by a large degree, but the drop in residential rent was relatively smaller. Dai-ichi hope to achieve some stability by adding residential properties to their portfolio. They are targeting studio ~ 2-bedroom rental buildings as they are anticipating strong demand from singles and couples.Read more
How much will distance from the station affect rent?
The walking distance from the nearest train station is a major factor when searching for an apartment or house in Japan. The closer to the station, the higher the rent. So, how much does rent change as you look at places that are 5, 10 and 15 minutes away?
The following is a translation of an interview between a writer and real estate agent that appeared on the MyNavi news site on January 3, 2013:
-- Where I live the difference in rent is approximately 10,000 Yen/month between a property 5 minutes from the station and one that is 10 minutes away. Are other areas the same?
Although it will depend on the area, that would be the approximate difference in rent that you will see. For properties over a 10 minute walk, the rent will be even lower. As for one-room studio apartments, there is almost a 30% difference in rent between properties that are 5 minutes and 10 minutes away.Read more
Studio apartment sale listings reach all-time high
The number of secondhand 'one-room' or studio apartments listed for sale in greater Tokyo has reached an all-time high. According to Tokyo Kantei, as many as 70,000 units were listed in 2012, an increase of almost 10% from 2011.
Many of the studios were built during the bubble period from the late 1980s to 1990 and are hitting the market as investors show a trend towards reducing their asset holding time.Read more
Can I hang Christmas lights on my balcony?
Apartment dwellers may want to get into the Christmas spirit by hanging lights on their balcony, but they should be aware that their building's management association may have rules that prescribe if and how they can hang lights.
While you have exclusive ownership of the inside of your apartment, your balcony is technically part of the building's public space with usage rights granted to the apartment owner. As such, owners and tenants must follow the rules for the use of balconies which are set out in the management agreement.Read more