Apartment rents in Tokyo increase for 12th month
According to Tokyo Kantei, the average monthly rent for an apartment in Tokyo’s 23 wards was 3,506 Yen/sqm in November 2018, down 0.6% from the previous month but up 5.2% from last year. This is the 12 month in a row to see a year-on-year increase.
Nihonbashi’s redevelopment projects between now and 2035
Tokyo’s historic Nihonbashi district continues to transform with several major redevelopments planned between now and 2035. In addition to these new high-rises, there are also plans to move the unsightly aboveground expressway underground, restoring the Nihonbashi river to its original state.
Greater Tokyo second-hand apartment prices increase for 71st month in a row
According to REINS, 3,225 second-hand apartments were reported to have sold across greater Tokyo in November, up 4.2% from the previous month and up 11.1% from last year. The average sale price was 32,970,000 Yen, up 0.7% from the previous month and up 2.9% from last year. The average price per square meter was 508,200 Yen, up 0.5% from the previous month and up 1.2% from last year. This is the 71st month in a row to record a year-on-year increase in sale prices.
160m tall apartment tower for Nishi Shinjuku 5 Chome
A 43-storey, 160 meter tall apartment tower is planned for the Nishi Shinjuku 5 Chome address in Tokyo. Construction is scheduled to start in mid-2020 with completion by July 2023.
Keihan Real Estate to develop machiya guesthouses in Kyoto
On December 6, Keihan Real Estate announced plans to enter the machiya guesthouse business in Kyoto City. The company, along with Tokyo-based real estate flipper Intellex, plans to invest 2 billion Yen (approx. 18 million USD) in restoring 10 guesthouses over the next year.
Yaesu 2-Chome redevelopment project to have minor but curious residential component
Construction of the Yaesu 2-Chome North District Category-I Urban Redevelopment Project officially started on December 3. Completion is scheduled for August 2022.