Tokyo apartment prices up 12.2% from last year
The average price of a second-hand apartment sold across greater Tokyo in January reached 41,490,000 Yen, up 10.0% from last year. This is the 20th month in a row to see a year-on-year increase. The average price per square meter was 641,800 Yen, up 11.5% from last year and the 21st month in a row to see an increase.
200 billion Yen redevelopment for Shinjuku West Exit
On February 9, Odakyu Electric Railway announced that it will be working together with Tokyu Land on the 200 billion Yen redevelopment of the former Odakyu Department Store near the west exit of Shinjuku Station.
Tokyo Apartment Sales in January 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of January 2022:
Toranomon Hills Residential Tower reaches completion
The newest building in the Toranomon Hills area officially reached completion on January 20, 2022. Toranomon Hills Residential Tower is a 220-meter tall, 54-story luxury apartment tower developed by Mori Building. Residents will be able to move in from May.
Seibu to sell hotels for US$1.3 billion
Singaporean sovereign wealth fund GIC has emerged as the potential buyer for the majority of Seibu Holdings’ hotel portfolio. Around 30 of Seibu’s hotels are expected to be sold for somewhere around 150 billion Yen (approx. US$1.3 billion).
Nintendo hotel in Kyoto to open this April
The conversion of the historic former Nintendo headquarters in Kyoto will open as a boutique hotel this April. Called ‘Marufukurō’, it is named after Marufuku, the name of the previous corporate incarnation of Nintendo.
How has Tokyo's rental market changed since the pandemic
News reports are still coming out about an exodus from Tokyo as the coronavirus pandemic continues, but has this had any effect on the real estate market in Tokyo’s 23 wards?