Tokyo Apartment Sales in December 2017
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of December 2017:Read more
Kyoto to see 12,000 new hotel rooms by 2020
A survey by the Kyoto Shimbun has estimated that there will be approximately 12,000 new hotel rooms supplied in the city by 2020, a 40% increase from 2015. This is 20% more than the 10,000 rooms required to eliminate the current room shortage.
The city had a total of 33,887 rooms as at the end of 2016, a 4,000 room increase from 2015. By 2020 there will be a total of 42,000 rooms. The data measured by the city does not include small-scale accommodation facilities like guest houses, which means the total could be much higher.Read more
Apartment asking prices in Tokyo in November 2017
According to Tokyo Kantei the average asking price of a 70 sqm (753 sq ft) apartment across greater Tokyo was 36,210,000 Yen in November, up 1.1% from the previous month and up 2.1% from last year. The average building age was 23.1 years.
In Tokyo’s 23 wards the average asking price was 53,320,000 Yen, up 0.8% from the previous month and up 1.0% from last year. The average building age was 22.7 years.Read more
Akasaka Twin Tower Redevelopment to be completed by 2024
Mori Trust released additional details on their Akasaka 2 Chome Project earlier this month. The mixed-use office and hotel building will be approximately 210 meters tall with 43 floors and a total floor area of 220,000 sqm (2.3 million sq ft). This is twice the height of the neighboring House of Representatives Members Housing and almost 40 meters taller than Akasaka Tower Residence. It will be similar in height to the recently completed 205m tall Akasaka Intercity Air which is located across the street.Read more
Average rent in Tokyo drops for 5th month in a row
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,334 Yen/sqm in November 2017, up 0.8% from the previous month but down 0.5% from last year. Average rents have been down year-on-year since July, although they have been showing an increasing trend for apartments in buildings less than 10 years old.Read more
Construction starts on Aoyama Bell Commons redevelopment
Construction has started on a 20-storey commercial building on the site of the former Aoyama Bell Commons building in the Omotesando / Gaienmae area in Tokyo. Completion is due by April 2020.
The 90m tall Kita Aoyama 2 Chome Project will include retail on the first two floors, a hotel on floors 3, 4 and floors 16 through 20, and office and co-working space on floors 5 through 15. The total floor area will be 22,910 sqm, approximatley 50% larger than Aoyama Bell Commons, while the new building will be almost twice as tall.Read more