Land price movements for Japan for 2nd QTR announced

August 28, 2011Japan land valuesLand,Real Estate News,Market Information

The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced the land price movements for Japan on July 1st, 2011.

Of the 146 surveyed sites across Japan, land values for 7 sites increased, 53 sites saw no change and 86 sites saw a decline in values.

Compared to the previous report issued on April 1st, 2011, just following the Tohoku Disaster, it appears that land values are starting to stabilize.Read more

by Zoe Ward

Prices of apartments on secondary market continue to fall

August 26, 2011Real Estate News,Market Information

According to real estate information and consulting agency, Tokyo Kantei, the average price for an apartment on the secondary market in the greater Tokyo area (Tokyo, Kanagawa, Chiba and Saitama) in June, 2011, was 29.75 million Yen (386,000 USD). This is a fall of 3.5% from a year earlier and a fall of 0.7% from the previous month.Read more

by Zoe Ward

Tokyo Stock Exchange negotiates lower rent on headquarters

August 25, 2011Office/Retail News & Information,Real Estate News

Heiwa Real Estate Co. announced on August 24th that their major tenant, the Tokyo Stock Exchange (TSE), had negotiated for a lower rent of 4.412 billion Yen (57.3 million USD) per year for the TSE headquarters in Tokyo's Nihonbashi area. This is a discount of 8.3% on the previous rent. The current contract is for two years, after which time the rent will be adjusted according to economic conditions.Read more

by Zoe Ward

Bank of China to offer home loans to Chinese residents in Japan

August 25, 2011Japan property financeReal Estate News

Mitsui Real Estate Sales announced on August 24th that they have tied up with the Bank of China (BOC) to provide mortgages for Japanese properties to Chinese residents in Japan.

The new loan product was introduced by the BOC in June, 2011, and is aimed at Chinese who currently reside in Japan but do not have Japanese citizenship. Domestic Japanese banks can also provide financing but they have much stricter terms and conditions. The BOC aims to lower the hurdles to borrowing.Read more

by Zoe Ward

[Foreclosed] Mita Tsunamachi Park Mansion 15F

August 20, 2011Tokyo Apartments,Japan Foreclosed Properties,Mita Tsunamachi Park MansionForeclosed Properties,Tokyo

Court Evaluation: 70,000,000 Yen

*Update: The winning bid was 80,300,000 Yen. A total of 4 bids were made on the apartment and the winning bidder was a private individual.

This 2-bedroom apartment in Mita Tsunamachi Park Mansion is up for public auction. The building was developed by Mitsui and was Japan's first high-rise apartment development. The 15th floor corner unit overlooks the greenery of the Mitsui Tsunamachi Club grounds and also has views of Tokyo Tower. Because of its views, it was valued at 5% higher than apartments facing other directions. Carparking and a storeroom is included.Read more

by Zoe Ward

Aoyama The Tower Penthouse for Sale

August 20, 2011Aoyama The Tower,Tokyo Apartments,Tokyo penthousesPenthouse Apartments

Price: SOLD
Size: 140.83sqm (1515 sqft)

This 23rd floor 3-bedroom penthouse apartment is located in one of the top condominium apartment buildings in the Omotesando area. The apartment is south and west facing and has uninterrupted city views. The monthly management and repair fund fees for this unit are 54,305 Yen/month.Read more

by Zoe Ward

Kobe's oldest foreign residence for rent

August 19, 2011Kobe house for rent,Kobe houses,ijinkanHistoric Properties,Rental Market

Rent: 1,260,000 Yen/month
Size: 192.71 sqm

Built in the late 1880s / early 1890s, this is said to be the oldest ijinkan in Kobe. Ijinkan is the name for the Western style residences built mostly for early foreign settlers during the end of the Shogunate and the Meiji era. Kobe is known for its collection of old Western residences and many in the Kitano area are open to the public as tourist attractions.Read more

by Zoe Ward