Rosenka land values increase nationwide for 3rd year in a row
This year, Japan’s nationwide rosenka land values increased for the third year in a row with an annual rate of growth of 0.7%. The rate of growth has increased from 2017 which saw 0.4% and 2016 with 0.2%.
The Tokyo metropolitan area saw a 4.0% increase, up from a 3.2% increase seen in 2017. Kyoto Prefecture saw a 2.2% increase and Osaka saw a 1.4% increase. A total of 18 prefectures saw an overall increase in land values in 2018, up from 13 prefectures in 2017. Total real estate transactions by listed companies in 2017 reached 5 trillion Yen (approx. 45 billion USD), up 20% from 2016 and the third highest annual volume in history.Read more
Tokyo Apartment Sales in June 2018
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2018:Read more
Daikanyama retail to be replaced with residential building
La fuente Daikanyama, a low-rise retail complex in the heard of the Daikanyama district, will soon be demolished to make way for an apartment building. The retail mall will close in July 2018.Read more
Tokyo apartment asking prices in May 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,320,000 Yen in May, up 0.8% from the previous month and up 1.7% from last year. The average building age was 23.7 years.Read more
Details released on planned redevelopment in Akasaka 7 Chome
More details have emerged of a possible high-rise apartment tower to be built in the Akasaka 7 Chome address. The Akasaka 7 Chome 2 District Redevelopment may include a 46-storey apartment building on the western side of the site with a maximum height of 157 meters, along with a 5-storey commercial/retail building on the eastern side of the site.Read more
Japan land prices increase in 91% of locations - highest share in history
According to the quarterly LOOK report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in the first quarter of 2018, land prices have increased in 91% of the surveyed locations. This is the first time the percentage has exceeded 90% in the history of reporting.
The main factors behind the rising land prices include positive conditions for the office market in central Tokyo, Osaka and Nagoya, major redevelopment projects, surging tourism numbers and expenditure, and strong demand for apartments that are close to transport. These factors are also encouraging investment into the office, retail, hotel and residential sector.Read more
Tokyo apartment rents see 6% year-on-year increase
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,496 Yen/sqm in May 2018, down 0.6% from the previous month but up 6.0% from last year. This is the sixth month in a row to see a year-on-year increase. The average apartment size was 55.79 sqm and the average building age was 18.5 years.Read more