Proposal to reduce voting ratios further for earthquake-damaged apartment buildings
In order to quicken the reconstruction process in the event that an apartment building is severely damaged in an earthquake, the national government is firming up plans that would see voting ratios reduced even further.
Land prices continue to rise in first quarter of 2022
According to the latest quarterly LOOK Report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), land prices at 57% of the surveyed locations saw an increase in the first quarter of 2022. This is a vast improvement from a 28% share seen in the same quarter in 2021 and a 1% share seen in the second quarter of 2020 when the effects of the pandemic began to be known.
Mori Trust acquires hotel development site in Gion
On May 1, real estate developer Mori Trust announced the acquisition of 2,300 sqm of land in Kyoto’s Gion district with the aim of creating a luxury hotel of an international standard.
Tokyo Apartment Sales in May 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of May 2022:
Real estate investment appetite returns to pre-pandemic levels
Corporations in Japan are now taking a different approach to their real estate investment activities. Immediately following the initial shock of the pandemic there was a sudden move toward selling off key assets in order to prop up business sheets. Now that the pandemic is subsiding and business is returning to usual, corporations are back to seeking efficient real estate assets that provide stable revenue and allow for diversification out of traditional revenue streams.
Osaka Marubiru to be demolished
The circular Osaka Marubiru office tower in Umeda will be redeveloped, with construction set to start next year.
Yokohama now home to Japan's tallest all-wooden building
Japan’s tallest all-wooden building reached completion in Yokohama in March after two years of construction.