Land values drop nationwide for second year, but increase in Tokyo

Japan’s Standard Land Prices were announced yesterday by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT). The national average dropped by 0.4% from last year. This is the second year in a row to see a decline, but it is a slight improvement from last year’s 0.6% drop. The nationwide average has been in the negative for 27 of the past 30 years.

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Marriott to open W Hotel in Osaka in 2021

On January 10, Sekisui House and Marriott International announced plans for Japan’s first W Hotel. The 337-room W Osaka will open in the Shinsaibashi district in 2021. Room rates have yet to be decided, but it is expected that this will be one of the priciest hotels in Osaka city.

The building will be 117 meters tall with 27 floors and will be designed by Pritzker Prize-winning architect Tadao Ando.

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Sales start in 50-storey high-rise in Osaka

Off-the-plan sales in the 50-storey Branz Tower Umeda North condominium began over the weekend, with the most expensive unit in the building – a 145 square meter three-bedroom penthouse – priced at 270 million Yen (approx. 2.37 million USD). A total of 218 apartments were offered for sale in the first round, representing a third of the total units in the building. Sale prices ranged from 36 to 270 million Yen and sizes ranged from 42 ~ 145 sqm (452 ~ 1,560 sq ft).

The 653-unit building is due for completion in November 2019 with apartments delivered to buyers from February 2020 onwards.

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