Tokyo Apartment Sales in March 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2022:
Construction starts on 150m tall office tower near Tameike Sanno
Sekisui House and Nippon Life Insurance Company have officially started construction on a 150-m tall office tower near Tameike Sanno Station.
Nationwide land values increase for first time in 2 years
On March 22, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced the official assessed land values (koji-chika) for 2022. Nationwide, the average land value across all land uses increased by 0.6%, recording the first increase in two years.
Tokyo office rents drop for 19th month
The release of large-scale offices for rent and some relocations to recently-completed buildings saw an additional 42,965 sqm of floor space up for rent in February, according to brokerage Miki Shoji.
Tokyo apartment rents hit new high in February
In February, the average rent of an apartment in Tokyo's 23 wards was up 1.1% from last year, according to Tokyo Kantei.
New apartment price across greater Tokyo rises by 16.3%
According to the Real Estate Economic Institute, the average price of a brand-new apartment released for sale across greater Tokyo in February was 74,180,000 Yen, up 16.3% from last year.
Modernist building by Togo Murano to be demolished
Demolition of a 55-year old office building designed by modernist architect Togo Murano will start in June. The demolition process is expected to take 12 months, with a new building to be completed by 2025.