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

by Zoe Ward

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

by Zoe Ward

Fukushima's real estate market not expected to recover for at least 3 years

Fukushima Prefecture's Real Estate Appraisal Association announced the results of their survey on the real estate market for Fukushima following the March 11 earthquake, tsunami and nuclear disaster.Read more

by Zoe Ward

The 2011 Japan earthquake and what it means for the real estate market

One month has passed since the March 11 Tohoku earthquake and tsunami. With strong aftershocks continuing and a nuclear disaster that was just upgraded to the maximum level, uncertainty remains over what will happen to the Japanese economy in the short and medium term.Read more

by Zoe Ward

Second-hand apartment prices in Tokyo continue to increase

According to Tokyo real estate service provider, Tokyo Kantei, the average price of a 70 sqm second-hand apartment in Tokyo's 23 Wards in May, 2010, was 43.05 million Yen. This is an increase of 9.5% from June of 2009. Prices in Saitama and Chiba Prefectures also saw increases, while Yokohama had a slight fall in prices.

In recent years, Tokyo has seen the supply of brand new apartments fall, and the focus shifted towards pre-existing units. With a decline in home-loan interest rates and and increase in certain tax exemptions on gift taxes, buyers have started returning to the market.

In the past, there was a clear difference in the market for brand new and second-hand apartments. But recently, there are more and more buyers who are comparing both brand new and second-hand apartments for purchase.

Nikkei Shimbun, July 16, 2010

by Zoe Ward

Average House Listing Prices for May 12, 2010

According to real estate listing site Home's, the average price for a100sqm house in Minato-ku is approximately 101 million Yen, and in Shibuya-ku is approximately 75 million Yen as of May 12, 2010.

Continue reading for details on the average prices for each area in central Tokyo.

Read more

by Zoe Ward

Average Apartment Listing Prices for May 12, 2010

According to real estate listing site Home's, the average price for a 70sqm apartment less than 10 years old in Minato-ku and Shibuya-ku is approximately 65~66 million Yen.

Continue reading for details on the average prices for each area in central Tokyo.

Read more

by Zoe Ward