Proposed law to reduce minimum voting rights for reconstruction

January 9, 2012apartment reconstructionReal Estate News,Redevelopment & Reconstruction,All

The number of aging apartment buildings in Japan that need to be rebuilt in the near future is growing at a rapid pace, yet actual reconstruction projects are seriously lagging.

These projects are frequently stalled as the body-corporate meetings can take up to 10 years before any agreement is reached. This is due in part to the laws which require over 80% of apartment owners to agree to reconstruction. Older buildings tend to have older residents who are happy to stay where they are and don't want to relocate to temporary accommodation for 3 years while awaiting their new home. Other setbacks include a lack of funds for the project and owners with low incomes who cannot afford to take on any additional financial burdens.Read more

by Zoe Ward

Is Tokyo's special economic zone destined to be a flop

January 7, 2012Japan corporate taxOffice/Retail News & Information,All

In recent years, Japan has been losing losing its competitive advantage as foreign companies choose to locate their headquarters in other more business and tax-friendly Asian cities such as Singapore and Hong Kong.

As a way to increase the nation's international competitiveness the Japanese government recently announced plans to create special international business zones in seven areas across Japan. Locating your business within one of these zones will qualify you for certain tax breaks.Read more

by Zoe Ward

The "2012 Problem" of over-supply

January 6, 2012Office/Retail News & Information,Real Estate News,Market Information,All

Not only are residential apartments expected to flood the market in 2012, but the supply of new office space is also expected to reach record high levels.

This year, the supply of office space in central Tokyo is expected to reach the third highest level since the bubble economy in the late 1980s. Although construction companies are seeing brisk business, office vacancy rates continue to rise and we are entering into what the real estate industry is calling the "2012 problem". Department stores are facing similar conditions with an oversupply of under-performing branch stores.Read more

by Zoe Ward

mastermind JAPAN unveils new apartment building in Azabu Juban

January 5, 2012mastermind JAPAN,mastermind JUBAN,Higashiazabu Apartments,Azabu Juban ApartmentsBuilding Profiles,Featured Properties,New Construction,All

Mastermind JAPAN and Veritas Investment have started sales on their investment-oriented condominium in Azabu Juban. The "mastermind JUBAN" residential building has 44 units priced between 29.5 ~ 69.9 million Yen (383,000 ~ 908,000 USD). Apartments range from 26.35 sqm (283 sqft) studios to the 66.18 sqm (712 sqft) 2-bedroom apartments.There are 40 studios and only 4 2-bedroom units.

Located in Higashi Azabu 2 Chome, the apartments are just 2 minutes walk from Azabu Juban Station and the well-appointed Azabu Juban restaurant and cafe-filled streets. However, the Higashi Azabu neighborhood itself is a fairly industrial area with lots of small home factories and workshops - far from glamorous.Read more

by Zoe Ward

Modernist House in Kobe demolished

January 4, 2012Hyogo Prefecture,Ashiya City,Modernist Architecture in Japan,Modern Homes in JapanDemolition,Historic Properties,All

The former Matsuhashi Ryuzo Residence is a 2-storey home in Ashiya City that was built in 1935 for a businessman from Tennoji in Osaka. It was one of the few remaining examples of modernist architecture in the Hanshin area. It was designed by architect, Kikuji Ishimoto, who also designed the Shirokiya Department Store in Nihonbashi.Read more

by Zoe Ward

Japan's portable "tsunami shelter"

January 2, 2012Tsunami shelterAll,2011 Tohoku Disaster

A Japanese home-builder, Kimidori Kenchiku, has invented a tsunami-proof shelter that is shaped like a soccer ball and is capable of holding up to 5 adults. The company said that they developed the product as a way to increase future survival rates after seeing the devastating effects of the March 11 tsunami.Read more

by Zoe Ward

Moves to cancel mortgages in tsunami-affected areas

January 1, 2012Real Estate News,All,2011 Tohoku Disaster

On December 29 the Japan Housing Finance Agency (JHF) announced that they are considering either canceling mortgages or reducing the repayments to homeowners from the tsunami affected areas in Tohoku.Read more

by Zoe Ward