Luxury hotelier to pay 1.5 billion Yen for historic site in Kyoto

The operator of a luxury, boutique hotel in Hakone has been selected as the successful bidder for a historically significant site in Kyoto City.

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Looking for land? You might need to knock down a house first

A former Geisha house in Shibuya. Sold last year for the land, with the house demolished shortly after.

If you are looking for land to build a house or other building on in Japan, particularly in a city, you may find lots are small in size while supply is limited. Of Japan’s total land size of 37,800,000 hectares, 66% is forest and 12% is farmland. Land for building purposes comprises 1,960,000 hectares or just 5% of the total - and that includes land that is already built on. The remainder is roads, rivers and waterways, and fields.

In an urban location, most of the land is already occupied, so domestic buyers will also consider lots with existing buildings that they can demolish. This is unavoidable in an area with a short supply of listings. If you limit yourself only to vacant lots, you may find very few options. 

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Game museum and office tower for Yokohama

A real estate developer and video game company have joined forces to develop a high-rise office tower and game museum in Yokohama’s Minato Mirai 21 waterfront district.

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New apartment supply drops 6% in July

The supply of brand new apartments released for sale across Greater Tokyo in July dropped 6.2% from last year, resulting in the first year-on-year decline in eight months. This is due to developers having released most of their projects in the first half of the year to meet high demand from buyers.

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New office building for Omotesando

Construction has started on a 60-meter tall office building in Omotesando. The joint project by Mitsubishi Jisho and Goko is scheduled to be completed by February 2023.

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Tokyo apartment prices per square meter between 1992 and 2020

If anyone is interested in the change in apartment prices in Tokyo and its surrounding prefectures, the following data sourced from REINS may be of interest.

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Historic villa in Kyoto sold last month

A Kyoto-based asset management and real estate company acquired a historic ryotei-style restaurant in the city’s Higashiyama district in July.

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