Rosenka land values drop for 4th year in a row, but signs of recovery in urban areas
July 10, 2012Japan land values,Rosenka land valuesLand,Real Estate News,Market Information,Commercial Real Estate
On July 2, the National Tax Agency announced the 2012 Rosenka land valuations. The average land value across 358,000 sites assessed nationwide fell 2.8% from 2011. This is the fourth continuous year of decline, however the rate of decline shrunk 0.3 points from 2011.Read more
June office vacancy rates hit new high
July 6, 2012Tokyo Office Market,Tokyo Office RentOffice/Retail News & Information,Real Estate News,Market Information,All,Commercial Real Estate
Miki Shoji announced the results from their survey on office vacancy rates for the month of June 2012. In central Tokyo's 5 wards (Chiyoda, Chuo, Minato, Shinjuku and Shibuya), the average vacancy rate increased by 0.03 points from May to 9.43%. This is the third month of continuous increases. June's vacancy rate is at a record high level, beating the record set in May.Read more
Apartment prices in Saitama up 21.1%
June 30, 2012Tokyo apartment pricesMarket Information,All
According to AtHome, the average sale price on a secondhand apartment in greater Tokyo was 21,580,000 Yen (273,000 USD) in May 2012. This is a decline of 0.4% from May 2011 and is the second continuous month of decline.
Chiba and Saitama, however, both saw relatively large increases in the average sale price.Read more
800,000 sqm of land with unknown owners in Okinawa
June 27, 2012Okinawa LandLand,Okinawa,All
The effects of the battle of Okinawa in 1945 still remain today with countless tracts of land left vacant as ownership records were lost during air raids. Just over 805,000 sqm (199 acres) of land is missing records of ownership as houses were burned down along with the land registers and title documents.
In Teruya, Itoman City, in the southern end of Okinawa, sugarcane farming and residential houses are gradually increasing. However, a small 74 sqm block of land remains vacant as no one knows who the rightful owner is.Read more
RYU:X TOWER - Okinawa's latest high-rise apartments
June 26, 2012Naha,Okinawa Real EstateBuilding Profiles,New Construction,Okinawa,All
Three of Japan's major developers, Daiwa, Orix and Daikyo, have announced the details of their latest high-rise condominium project in Naha City, Okinawa. Called "RYU:X TOWER", the two 30 storey buildings will have 676 apartments ranging from one to three bedrooms, and priced from 28 to 69.2 million Yen.
The developers were selected by the city in 2006 to redevelop the site. The first stage of the redevelopment including building offices and hotel facilities. The second stage includes the two residential towers.Read more
Residents move back into 'completely destroyed' building
June 25, 2012Earthquake damage,Tohoku earthquake,Fukushima Prefecture,Koriyama CityReal Estate News,2011 Tohoku Disaster
After a year and four months of waiting, residents of "Neo Heights Kuwano" in Fukushima's Koriyama City have been given the all-clear to move back into their apartments after the building was repaired following serious damage sustained during the Tohoku earthquake last year.
The first four floors of the building suffered damage to their exterior walls and the reinforcing inside the building's columns had broken. This led the city to declare it as 'completely destroyed'. As the majority of the apartment doors were jammed and could not be opened, the residents had to move out.Read more
Tokyo's newest and tallest wood-frame mansion
June 24, 2012Setagaya-kuHome Design,New Construction,Real Estate News,All
Tokyo's first 5-storey wooden structure - an apartment building - is to be built near Shimouma in Setagaya-ku.
Under a revision to the Building Standards Act in 2000, wooden structures over 4 stories are permissible as long as they meet building strength and fire resistant regulations. Prior to this amendment, a law made during the Taisho period (1926 - 1926) limited wooden structures to 3 stories.
Although the amendment was made 12 years ago, it has not been widely taken up by the construction industry. In Tokyo city, just one 4-storey wooden residence was built in Chiyoda-ku in 2011.Read more