New apartment price in Tokyo hits 32-year high
The average price of a brand-new apartment released for sale across greater Tokyo in 2022 reached 62.88 million Yen, up 0.4% from 2021 and the highest level on record since 1990 when prices were 62.14 million Yen.
Mita Garden Hills now on sale with a 4.5 billion Yen apartment on offer
Sales in the 1,002-unit Mita Garden Hills luxury apartment development in central Tokyo started last week with pricing looking to average around 4 million Yen/sqm (US$2,860/sq.ft).
New Issey Miyake store completed in Ginza
Yasuda Real Estate has completed construction of its 3rd project in Ginza. The 9-story Ginza Matsuya-dori Yasuda Building will have Issey Miyake as the key tenant on the first 4 floors.
Mita Koyamacho Redevelopment to be completed by 2028
More progress has been made on the Mita Koyamacho West District Redevelopment near Azabujuban Station with the Tokyo Governor approving the developers’ rights conversion plans last December.
Apartment asking prices climb 13.2% in 2022
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment across the greater Tokyo region in 2022 climbed 13.2% to 47,160,000 Yen. This was the second year in a row to record double-digit growth.
Hotel Okura South Wing redevelopment to start in 2024
Construction of a 225-meter tall tower to replace the former Hotel Okura South Wing building in Roppongi will start in 2024, with completion scheduled for 2028.
New apartment prices in Sapporo hit highest level on record
The average price of a brand-new apartment in Sapporo reached its highest level on record in 2022. According to the Sapporo-based Housing Distribution Research Institute, the average price reached 47.82 million Yen, up 17% from 2021 and the highest price since record-keeping began in 1989.