New apartment supply doubles in November as Athletes Village goes back on sale
The supply of brand-new apartments released for sale across greater Tokyo doubled in November as a large number of apartments in the Harumi Flag development on Tokyo Bay hit the market.
Tokyo apartment prices increase for 19th month
The average price of a second-hand apartment reported to have sold in the Tokyo metropolitan area in November was 807,200 Yen per square meter, up 6.4% from last year and the 19th month in a row to see a year-on-year increase.
Tokyo's office vacancy rate improves for first time in 21 months
In November, the office vacancy rate in Tokyo improved for the first time in 21 months as concerns over the pandemic’s effects on the workplace seem to have weakened.
Tokyo Apartment Sales in November 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of November 2021:
Will the government's attempt at a national real estate ID system be successful this time around?
The Nikkei Shimbun newspaper ran a recent article going over all of the issues with the government’s attempt to create more transparency and accessibility with real estate data. Anyone who has worked in Japan’s real estate industry or attempted to conduct market research will be well aware of just how little data is available, paid or otherwise.
Commercial landowners will likely receive a tax break in 2022
Both the Komeito political party and the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) are seeking that property taxes for commercial land receive some kind of tax relief next year. The leading Liberal Democratic Party also seems to be in favor of this measure.
111 offers on an apartment in the Athletes Village
The third round of sales in Harumi Flag, the large-scale apartment project that had previously been used as the Athletes Village for the recent Summer Olympics, kicked off last month. This is the first sales activity to take place in two years, as sales were temporarily suspended due to the delayed games.