Ueno hotel closes in order to preserve historic home
At the end of May, a historic ryokan founded around the former home of novelist Ogai Mori will shut its doors after 80 years of operations. The hotel has suffered from a spate of cancellations for both its rooms and restaurant as a result of the novel coronavirus outbreak and is unable to continue to remain open.
Tokyo secondhand apartment prices see first drop in 15 months
According to REINS, 3,642 second-hand apartments were reported to have sold across greater Tokyo in March, down 2.9% from the previous month and down 11.5% from last year. The average sale price was 34,890,000 Yen, down 0.03% from last year. The average price per square meter was 540,500 Yen, up 0.2% from last year.
Tsukiji machiya demolished
The traditional machiya-style townhouse in Tsukiji we featured back in February 2019 when it was listed for sale, has, sadly, been demolished. It will be replaced with a 5-story hotel covering the adjoining vacant lots. Completion is scheduled for February 2021.
How to follow Japan's real estate market in a rapidly changing environment
Real estate price indexes tend to be published 3 months after the fact, so anyone looking for up-to-the-minute details on the impact that the coronavirus is having on Japan’s real estate market needs to consider other sources of information.
Tateshina Highlands holiday homes see boost in wake of coronavirus panic
With a growing number of confirmed cases of coronavirus in the greater Tokyo area and a recently-declared state of emergency, some city residents are escaping to holiday home areas. One district that has seen a resurgence in popularity is the Yatsugatake Nanroku / Tateshina Highland holiday home area.
70% of real estate companies report impact from coronavirus fears
Earlier in March, real estate information provider Lifull conducted a survey of 925 real estate companies to see how the coronavirus situation was affecting them. Over 70% reported that their operations were already being impacted, while 91.9% were concerned about the future effects that this virus would have on their business activities.
Foreign investors keep their distance from Niseko
The winter ski resort district of Niseko in Hokkaido has been home to the highest land price increases in Japan for the past few years as it undergoes a rapid change into a high-class ski destination for Asia’s wealthy. However, the boom times may have come to a crashing halt as the novel coronavirus wreaks havoc with the tourist-dependent town.