Tokyo’s high-end market still cheaper than other international cities
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.
Leasehold condos planned next to historic building in Tokyo
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.
Seibu confirms hotel portfolio sale to GIC
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.
Tokyo Apartment Sales in June 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2022:
Japan's rosenka land values increase after 2 years
This year’s rosenka land tax values were released by the National Tax Agency on July 1, and it’s been a mixed bag with some areas seeing gains and others losses.
Apartments planned for Azabu-Nagasakacho
An 8-story block of apartments is planned in the wealthy and exclusive Azabu-Nagasakacho enclave in central Tokyo.
Hyatt to open in Sapporo
On June 28, NTT Urban Development announced that Hyatt Hotels Corporation will by opening the Hyatt Centric Sapporo in NTT’s Sapporo Kita 1 Nishi 5 Project.