Over 22,000 public housing units across Japan contained asbestos

A treated asbestos ceiling in a public housing complex. Via NHK.

A survey by public broadcaster NHK has found that there were over 22,000 apartments in public housing complexes across Japan that were built with materials containing hazardous asbestos.

From the findings, a professor from the Tokyo Institute of Technology has suggested that there is a possibility that as many as 230,000 former residents could have inhaled asbestos fibers while living in these apartments. While this does not mean that every former resident will suffer from health problems, the professor did point out that further information is needed from the national and local governments.

The investigation was carried out by NHK and the Japan Association of Mesothelioma and Asbestos Related Disease Victims and their Families. According to the results, the 22,000 apartments included 8,700 units in public housing complexes that once contained spray-on asbestos, as well as units in city housing and UR housing where minuscule amounts of asbestos were used in spray-on materials. They did not have access to data on public housing complexes that have already been demolished, so the number could be higher than estimated.Read more


New life for old homes in Onomichi

On the hillside leading up to Senko-ji Temple in Onomichi City, Hiroshima, sits an old wooden house built between 1921 ~ 1923. Despite being registered as a national tangible cultural property in 2013, the historic home had been left empty to rot on the hillside for decades.

Luckily, a local non-profit organisation has stepped in to restore the old property and convert it into a guesthouse. Repairs will start this month, with completion expected by February 2016.

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Secondhand apartment prices in December 2014 - Tokyo Kantei

For the first time in three years, the average asking price of a secondhand apartment in greater Tokyo has increased from the previous year. According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in greater Tokyo in 2014 was 28,510,000 Yen, up 2.1% from 2013. In Tokyo’s 23-ku, the average price in 2014 was 42,030,000 Yen, up 5.2% from 2013. It is now 6.3% below the peak seen during the last mini-bubble in 2008.

Prices in December

The average asking price in Tokyo’s 23 wards was 43,790,000 Yen in December, up 1.1% from the previous month and up 7.7% from December 2013. The average building age was 22.2 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 61,970,000 Yen, up 1.1% from the previous month and up 12.8% from the previous year. The average building age was 21.4 years.

The average price across greater Tokyo was 29,870,000 Yen in December, up 0.5% from the previous month and up 2.3% from the previous year.Read more


Growing market for secondhand apartments, but concerns linger

New secondhand apartment sales Tokyo 2003 2013

Despite the preference that Japanese have for all things new, secondhand apartments are growing in popularity and more and more developers are getting involved in renovations and apartment flipping.

According to REINS, 36,432 secondhand apartments were sold in greater Tokyo in 2013, up 16% from the previous year. Over the same period, 44,886 new apartments were sold, up 29% from 2012.

There are three main reasons for the recent growth in the secondhand apartment market: Read more


Secondhand apartment prices in October - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo's 23 wards was 40,660,000 Yen in October, up 0.6% from the previous month and up 3.3% from last year. This is the seventh month in a row where prices have seen a month-on-month increase.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 54,580,000 Yen, up 1.0% from the previous month and up 7.0% from last year. The average apartment age was 21.0 years.

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MLIT White Paper on home ownership

On July 2, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released their 2012 White Paper. The theme of the report explored the living situations and demographics of Japan's younger generation.

Home Ownership

Home ownership rates in Japan shrunk between 1983 and 1998, but began to pick up in 2008. The average rate across all age groups is around 60%.Read more


Temporary upswing in real estate market in Sendai

The 2011 rosenka land valuations released by the National Tax Agency on July 1st showed a decline in land prices across Japan for the third continuous year. Concern is rising, however, over a large scale crash in prices in areas of Northern Japan that were affected by the Tsunami and Fukushima Daiichi Nuclear Power Plant where real estate transactions have almost ceased.

Sendai City, on the other hand, is experiencing a hike in emergency demand from displaced residents.Read more