Quick real estate news summary for the week
New apartment supply to increase 31% next year, US$7 billion bet that Japan’s telework trend is short-lived, Nuveen and Kenedix acquire more apartment buildings in Tokyo, and 6% of Osaka's restaurants shut amidst pandemic. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
97-yr old building to be relocated
Don’t despair. The historic Toranomon Osaka-ya Sunaba Restaurant isn’t being demolished, it’s being shifted to make way for a road-widening project.
Harajuku’s Togo Shrine to redevelop vintage function hall
Togo Shrine will be redeveloping their 43-year old wedding and event building within the Shrine grounds next year.
Quick real estate news summary for the week
Tokyo’s office vacancy rate hits 4%, cash bonus for anyone who moves near the Fukushima nuclear plant, and apartment rents drop in Tokyo and Yokohama. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
1930s building in Shimbashi to be converted into share offices
An 88-year old heritage-listed building in Shimbashi is being converted by construction giant Takenaka Corporation into a share office for start-ups.
Tokyo apartment discounts in November
The median discount on an existing apartment sold in Tokyo’s 23 wards was just 1.04% in November. This is a 0.7 point drop from November 2019. 43% of transactions sold at their full asking price, up from a 31% share in 2019.
Quick real estate news summary for the week
Hiramatsu to open new hotel in Karuizawa, 1 million Yen on offer if you relocate to the countryside, and real estate companies expect pandemic-related conditions to continue for next few years. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.