
The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,835 Yen/sqm in June, down 0.3% from the previous month but up a slight 0.2% from last year. The average apartment size was 51.38 sqm (553 sq.ft).
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The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,835 Yen/sqm in June, down 0.3% from the previous month but up a slight 0.2% from last year. The average apartment size was 51.38 sqm (553 sq.ft).
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The average sale price per square meter in Tokyo’s 23 wards increased for the 26th month in a row in June, with a 9.9% year-on-year increase to 900,300 Yen/sqm. Meanwhile, the average building age was 22.31 years, up from a 20.86-year average in June 2021.
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On July 1, Tokyu Land Corporation announced the planned sale of five golf and ski resorts to several buyers, including a hotel operator. The sale price has not been made public. The sale is part of Tokyu’s ongoing revision of its resort business with the aim of improving capital efficiency.
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According to the Kyoto Shimbun newspaper, offshore investors are out in force buying up real estate in Kyoto, with property prices in the historic city considered comparatively inexpensive.
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Tokyo City is looking for a new tenant for the historic Ogasawara Residence in Shinjuku. The Spanish-style home was built in 1927 for Count Nagayoshi Ogasawara (1885-1935).
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On July 5, NTT Urban Development Corporation announced a management agreement with Capella Hotels & Resorts to open Capella Kyoto in the Higashiyama district.
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According to the Japan Real Estate Institute’s latest report on global real estate prices, an apartment in the wealthy Motoazabu district in Tokyo is cheaper than one in Beijing, Shanghai, Hong Kong, Taipei, Singapore, New York, and London.
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On June 30, sales began in a leasehold condominium located in Tokyo’s Jimbocho district. The 14-story building is next-door to the Toho Gakkai Institute of Eastern Culture. This modernist building was built in 1926 and is recognized by Chiyoda Ward as an important property for the district’s landscape design.
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On June 30, Seibu Holdings confirmed that it would be selling 31 of its hotel and golf facilities to an affiliate of Singaporean sovereign wealth fund GIC. The sale price is 147.1 billion Yen (approx. US$1.09 billion thanks to a historically cheap Yen), with Seibu posting an 80 billion Yen gain on the sale.
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The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2022:
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