46 listed companies dispose of real estate in first half of 2022
A total of 46 TSE listed companies reported the sale of domestic real estate holdings in the first half of 2022 (April-September), with Tokyo Shoko Research estimating that the annual number could reach a 15-year high of 100 companies.
Apartment asking prices in Tokyo increase for 28th month in a row
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in Tokyo’s 23 wards reached 69,710,000 Yen in October, up 0.6% from the previous month and up 7.8% from last year. This is the 28th month in a row to see a month-on-month increase. The average building age was 27.6 years.
Autumn sales sees contract ratio return above 70%
Autumn sales season kicked off last month with 2,768 brand-new apartments released for sale across greater Tokyo, a 36% increase from the previous month and a 34.7% increase from last year.
Atami hotels sold to US fund
The landmark Hotel New Akao in Atami has been sold to Shirakami, an affiliated company of Fortress Investment Group. The sale is for Hotel Acao Annex (former Hotel New Akao) and Hotel Acao (former Royal Wing) and approximately 7% of Acao Spa & Resort’s landholdings.
Tokyo’s rents increase for first time in 6 months
The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,820 Yen/sqm in October, up 0.6% from the previous month. This is the first month-on-month increase in 6 months. Rents are down 0.3% from last year.
58-story high-rise for Tsukishima
Construction has officially started for the Tsukishima 3 Chome North District Town Redevelopment which will see a 58-story apartment building on a prime site alongside Monja Street.
Tokyo tops luxury residential price rises in Asia
Tokyo has seen the highest increase in luxury residential prices in Asia, according to Knight Frank’s Prime Global Cities Index for the third quarter of 2022. It also ranked 3rd worldwide, after Dubai and Miami.