32 million Yen lawsuit filed against illegal Airbnb hosts in Osaka apartment building
The owners association of a condominium in Osaka’s Minami district have filed a lawsuit with the Osaka District Court seeking 32,670,000 Yen (approx. 300,000 USD) in damages from hosts providing illegal overnight accommodation in the building.
According to the association, 5 of the 100 apartments in the 10 year old building have been rented out to overnight guests using online booking sites, contravening the building management bylaws. The association made attempts to have the hosts, who also owned the apartments, stop the activity by imposing fines of 50,000 Yen per day and putting up posters in the building. However, their attempts were ignored.
Tokyo apartment sales in July 2017
The following is a selection of apartments that were sold in central Tokyo during the month of July 2017:Read more
Local groups seek ban on unlicensed short-term letting in Hakuba
Hakuba’s local tourism associations are seeking a ban on short-term Airbnb-type accommodation because it could threaten the already-low operational rates of the village’s existing inns and hotels.
Hakuba’s Kirikubo and Shinden districts at the foot of the Hakuba Iwatake Ski Resort have 68 licensed lodgings that have operating ratios of around 15 ~ 20%, as reported by the Iwatake Tourism Association. The president of the Association says the village already has enough accommodation options for foreign and domestic tourists and believes that the new model of short-term Airbnb-type lettings is something more suited to a large city.
For Sale: 3-Bedroom corner apartment in Roppongi Hills
ROPPONGI HILLS RESIDENCE
SOLD
Potential rent: -
This is a sought-after three bedroom corner apartment on the 19th floor in Roppongi Hills Residence B - the 43-storey tower. The Roppongi Hills Residences form part of the internationally-renowned Roppongi Hills complex in the center of Tokyo, which includes a 238m tall office tower, a variety of restaurants and cafes, a high-end retail mall, the Grand Hyatt Hotel, the TV Asahi studio, and the Louis Vuitton, Tiffany and Escada boutiques.
The developer, Mori Building, spent 17 years getting the various land parcels and landowners together in order to start the project. Since its completion in 2003, Roppongi Hills has been considered one of the most desirable places to live, work and play in the country, and has attracted some of Japan’s most elite business people and celebrities as residents.
Construction starts on 3,000-unit project in Kachidoki
Construction has started on a triple-tower high-rise apartment project on the man-made island of Kachidoki in Tokyo Bay. Completion of the 165.5 billion Yen (approx. 1.5 billion USD) development is tentatively scheduled for late July 2027.
The Kachidoki East District Redevelopment includes three towers ranging from 106 ~ 195 meters, with a total floor area of 369,000 sqm (3.97 million sq ft) and as many as 3,120 apartments.
New apartment prices in Kyoto drop as developers are forced out of city center
The supply of brand new apartments in Kyoto City in the first half of 2017 increased by 21.7% from the same period in 2016, while the average sale price saw a steep drop of 24.1% to 43,280,000 Yen. The reason for the decrease in the price was due to intense competition for hotel development sites in the city center which has forced apartment developers to shift their focus to the city’s outskirts where prices are cheaper.
Tokyo apartment asking prices in June 2017
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment across greater Tokyo was 35,620,000 Yen in June 2017, down 0.3% from the previous month but up 2.6% from last year. The average building age was 22.7 years.
In the Tokyo metropolitan area, the average asking price was 48,110,000 Yen, down 0.2% from the previous month but up 0.4% from last year. The average building age was 22.2 years.
In Tokyo’s 23 wards, the average asking price was 53,090,000 Yen, down 0.2% from the previous month but up 0.4% from last year. The average building age was 22.1 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 73,120,000 Yen, down 0.3% from the previous month but up 2.3% from last year. The average building age was 20.4 years.