Govt urges landowners in Fukushima evacuation zone not to sell
September 7, 2012Fukushima real estateReal Estate News,All,2011 Tohoku Disaster
The government is requesting that residents from the evacuation zones near the Fukushima Daiichi Nuclear Power Plant refrain from any real estate transactions within the area until evacuation orders are lifted.
The warning is to avoid any potential trouble arising after Tepco pays compensation to landowners and to ensure a smooth reorganization of the zones. The Yomiuri Shimbun gave a slightly different, and perhaps more honest reason for the request, which is to avoid the land being acquired by various yakuza organizations who, seeing an opportunity, may make it more difficult and more expensive for the government and Tepco to negotiate the storage of contaminated waste on such land. This is not an unfounded fear, as local real estate agents have reported receiving inquiries with very similar intentions.Read more
Apartment rents reach 7 year low in Tokyo
September 5, 2012average rent japan,average rent tokyo,rental market tokyoRental Market,Market Information,All
The average apartment rent across Japan's major cities has fallen even further. In July, the average rent for a condominium in Tokyo's 23-ku fell below 3,000 Yen/sqm a month for the first time in over seven years. The rent in rental-only buildings has also fallen.
According to Tokyo Kantei, the average rent for a condominium apartment in July was 2,995 Yen/sqm a month, down 1.8% from July 2011.Read more
Thai property developer buys Hokkaido ski resort
September 3, 2012Hokkaido Real Estate,Hokkaido Hotels,Japan Ski ResortsReal Estate News,Hokkaido,Commercial Real Estate,Hotel News
Thai property developer Property Perfect has invested 770 million baht (approximately 1.9 billion Yen, or 24 million USD) in the takeover of the relatively unknown Kiroro Ski Resort, 43km west of Sapporo, from Mitsui Real Estate.Read more
Historic Shimoda Ice Factory to be demolished
September 1, 2012Historic properties in Japan,Shimoda,Taisho Era ArchitectureDemolition,Historic Properties,Real Estate News,Shizuoka,All
The Nanzu Ice Factory in Shimoda City is scheduled to be torn down this month due to deterioration and concerns over its earthquake-resistance.Read more
Secondhand apartment prices continue to fall in July
August 30, 2012Tokyo apartment pricesMarket Information,All
According to Tokyo Kantei, the average secondhand apartment price (based on a 70sqm apartment) in greater Tokyo in July fell 0.7% from the previous month to 28,250,000 Yen.
With the exception of Saitama City which saw prices rise 0.5% from the previous month to 21,180,000 Yen, all other areas in greater Tokyo saw a further decline in prices, with the rate of decline worsening. In Chiba City, the average price fell 1.8% from the previous month to 17,170,000 Yen. This is 6.3% lower than July of 2011.Read more
Chunk of concrete falls off building in Ikebukuro
August 29, 2012Buyer Beware!,Real Estate News,All
A 20 centimeter piece of concrete fell from the top of a 10-storey apartment in Ikebukuro yesterday, smashing onto the pavement below. No one was injured.
The incident occurred at about 8am when a fragment from the rooftop of the building came loose. Another 4 meter long piece of concrete was left dangling, but was later removed by workers.
The apartment building is over 40 years old and the police headquarters said the deterioration of the building was to blame.Read more
Tas Corp's rental market data for August
August 27, 2012rental market japan,rental market tokyo,Japan investment propertiesRental Market,Market Information,All
TAS Corp, the company behind the "Tas-Map" real estate valuation site, released their latest data on the rental market for both the greater Tokyo and Kansai area for August 2012.
The data includes a vacancy rate index, average time an apartment is advertised before a tenant is found, average rate of lease renewals, rate of mid-way cancellations and a rent index.
This month's report on the greater Tokyo area focused on the aging population in Saitama and the consequences this will have for landlords in the future.Read more