Last year was full of upheaval. Focusing solely on the real estate side of things, some sectors performed poorly, while others thrived. We have summarized the year’s events into our annual Japan Property Market Report.
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Very excited to find one of just a small handful of homes in Tokyo designed by famed architect Tadao Ando is on the market for sale. To my knowledge there are maybe 6 7 (?) private homes by Ando that are still standing in Tokyo, with most of his works centered around Osaka and the Kansai region.
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After you have done the legwork and research, inspected, and obtained the general details of the place you want to purchase, it’s time to submit a written offer to the seller. This indicates that you intend to purchase the property under the conditions you have outlined.
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The median discount on an existing apartment sold in Tokyo’s 23 wards in September dropped to 1.32%, down 0.41 points from last year. Discounts were highest in the sub-30 million Yen price range, with a median of 2.07%, and lowest in the 50 ~ 100 million Yen price range with a median discount of 0.87%.
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August was a bumper month for second-hand apartment sales in greater Tokyo. In fact, it was the busiest month of August since REINS began recording data in May 1990.
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The median discount on an existing apartment sold in Tokyo’s 23 wards in August was 1.46%, up 0.06 points from July but showing no change from August 2019. Buying activity continued to improve again in August, with transactions looking similar to the volume seen last year.
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How long were apartments sitting on the market and how much of a discount did they trade at? The below is summarized from a recent report provided by Tokyo Kantei that looks into any impacts that the coronavirus pandemic may have had on Japan’s residential real estate market in the first half of 2020.
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Now that we are many months into the pandemic, has anything changed about the way the real estate agencies are operating? For the most part, business has returned to usual, with some adjustments.
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Tokyo apartment rents reach a record high, a condo in Tokyo Bay to include shared office space for residents, Nara welcomes a new international hotel, and agents now required to provide information about flood risks. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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With school closures, event cancellations and telecommuting becoming the new normal for us over the several weeks, let’s take a look at how Tokyo’s real estate industry is (or isn’t) doing its part to minimize the spread of the coronavirus.
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