An apartment designed with Roomba in mind

October 5, 2012LeaseholdBuilding Profiles,New Construction,All

The modelroom for Mitsubishi Jisho Residence's latest condominium 'The Parkhouse Shibuya Mitake' has been specially designed in collaboration with the Japanese sales representatives for vacuuming robot Roomba.Read more

by Zoe Ward

Golf courses converted to solar farms across Japan

October 3, 2012Mori Trust,Japan Golf Courses,Mega-Solar in JapanLand,Other News,Other Properties,Real Estate News,All

The Japanese government introduced a system whereby electric utility operators are obligated to purchase electricity produced by solar farms, and other renewable sources, at fixed prices. The system started from July 1, 2012. In order to benefit from the program, suppliers must obtain approval by the Ministry of Economy, Trade and Industry (METI).

Under the feed-in tariff (FIT), utilities will enter into 20-year terms to from solar power suppliers. The purchase price of solar power is expected to be set at 42 Yen per kilowatt-hour.Read more

by Zoe Ward

Tepco sells head office bldg for 25 billion Yen

October 1, 2012TepcoSold Properties,All,Commercial Real Estate

On September 27, Tepco announced that they had sold the Toshin Building in Shinbashi, Minato-ku, for 25 billion Yen (320 million USD).

The sale contract was signed on the 27th with a closing date scheduled for March 2013. The buyer has not been disclosed.Read more

by Zoe Ward

Average apartment prices in Tokyo down 13.5% in August

September 28, 2012Real Estate News,Market Information,All

According to research by AtHome, the average realized sale price of a secondhand apartment in greater Tokyo was 19,750,000 Yen in August, down 6.4% from the year before and 5.9% from last month. This is the first time in 2 years and 8 months that the price has fallen below the 20 million Yen mark.

The drop was particularly noticeable in Tokyo's 23 wards where sale prices fell 13.5% from one year prior, and 12.1% from the previous month. The average price per square meter in Tokyo's 23 wards fell 8% from last year to 446,100 Yen/smq, while in Chiba, it dropped 21.1% to 195,400 Yen/sqm. The average age of an apartment sold in greater Tokyo was 23.5 years.Read more

by Zoe Ward

Four arrested over land swindle in Minamiazabu

September 26, 2012Minamiazabu,JImenshiReal Estate News,All

Four people from a suspected land swindling group (a practice known as jimenshi) were arrested in Tokyo after being accused of stealing 370 million Yen.Read more

by Zoe Ward

Cheats and tricks in real estate advertising

September 24, 2012Buyer Beware!,Property Purchasing Guide,Real Estate News,Rental Market,All,Laws and Lawsuits

Japan has rules that regulate real estate advertising to consumers, but they are self regulated by nine organizations across the country. One of those organizations is the Real Estate Fair Trade Council of greater Tokyo. According to the Council, the number of illegal advertising tricks by real estate companies is increasing online. The most common of these tricks is bait-and-switch and misleading advertisements.Read more

by Zoe Ward

Prices down, yields up in Nakagin Capsule Tower

September 22, 2012Nakagin Capsule TowerAll

Prices of 'capsules' in the Nakagin Capsule Tower have fallen significantly over the past four years, but rents have remained relatively stable, leading to a boost in rental returns.

In 2008, capsules were priced as high as 6 million Yen each. Now they can be bought for between 2 and 3 million Yen (21,000 ~ 32,000 USD) each. The average monthly maintenance, repair fund and land rent fees (the building is on leasehold land) totals approximately 17,300 Yen for each unit.Read more

by Zoe Ward