Introducing Ark Hills Sengokuyama Residence
The latest condominium / office project by Mori Building.
*Updated with floorplans and interior images*
Built to a global luxury standard that Mori Building is renowned for, Ark Hills Senkokuyama Residence will undoubtedly be the finest apartment offering in Japan this year. The 243 apartments will have one to five bedrooms and range in size from 56.34 to 416.55 sqm (606 ~ 4482 sqft) and priced from ¥66.3 million to ¥1.35 billion.Read more
Eviction orders for Gamagori hotel
The Toyohashi branch of the Nagoya District Court has issued an eviction order to the religious organization that is using the former Gamagori Fukinuki Sightseeing Hotel in Miyacho, Gamagori City. The court is ordering the land to be returned to its owner (Miyacho) and the building to be demolished.
The original hotel opened in 1939 and has undergone many alterations and extensions over the years. During its prime, the hotel was Miyacho's leading hot spring resort. However, in 1998 the hotel filed for bankruptcy with debts over 3 billion Yen. It was later put up for public auction with a minimum bid of 956 million Yen. A buddhist organization purchased the building, but not the land, from Miyacho in 2004 and were charged an annual land rent of 3.8 million Yen. They demolished several buildings and refurbished the main hotel which had previously been damaged by fire.Read more
Ban on advertising new and old property price to be lifted
Moves are underway to lift the ban that prohibits advertising the former price of a secondhand property or land alongside it's new and reduced price.
Currently, this form of advertising can only be used on brand new construction less than two years old, and which has never been occupied. Certain terms relating to the length of time advertised also apply. It is expected that the law will change this summer to allow advertisements for secondhand properties and land to use the same method.Read more
Apartment price to income ratio worsens
According to research by Tokyo Kantei, the average new apartment price in Japan is 6.27 times the average annual income. This is an increase of 0.26 points from 2010, indicating an increased difficulty in purchasing homes.
The average price to income ratio for a secondhand apartment (10 years old) was 4.32 (0.26 points higher than 2010).Read more