Osaka Metro loses millions on minpaku mansion

Osaka Metro Co., Ltd., the operator of Osaka’s metro transit system, has reportedly sold a ‘minpaku’-style short-term letting building at a loss. The apartment building was purchased in 2019 with the goal of opening it to foreign tourists from February 2021, but those plans have been abandoned due to the ongoing international travel bans.

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1000 room hotel for Osaka’s Umeda district

On August 7, Hankyu Hanshin Holdings announced plans to open a 1,000 room hotel in Yodobashi Umeda Tower – a 35-storey redevelopment adjacent to the Yodobashi electronics store in Umeda, Osaka. The first 8 floors of the building will be retail, with the hotel located on floors 9 and above. The hotel is scheduled to open in 2020 as Hotel Hankyu RESPIRE Osaka, with the lower-floor retail to open in late 2019. This will be the largest hotel based on room count in Osaka City.

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Japan’s tallest base-isolation residential tower to be built in Osaka

The Parkhouse Nakanoshima Tower 3

On October 1, Mitsubishi Jisho Residence opened the model-room for a high-rise residential building planned for Osaka. With 55 floors and a height of 193 meters, The Parkhouse Nakanoshima Tower will be the tallest base-isolation residential building in Japan when complete (based on the total floor count).

The one, two and three-bedroom apartments will range in size from 40 ~ 148 sqm (430 ~ 1,592 sq.ft) and will be priced from 20 ~ 230 million Yen (166,000 ~ 1.91 million USD). There will be 894 apartments on 55 floors. The 22 premium apartments on the top two floors of the building will be priced over 100 million Yen (832,000 USD) each.

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Historic Daimaru Shinsaibashi Store Facade to be Preserved

Daimaru Shinsaibashi Osaka

Last year, J. Front Retailing announced plans to redevelop the historic 82-year old Daimaru Shinsaibashi Department Store in Osaka. The ageing building was becoming increasingly cost and difficult to maintain, and was short on floor space.

Original redevelopment plans involved razing the building. After J. Front’s announcement, local architects and historians lobbied the company to preserve as much of the intricately-designed building as possible. Although redevelopment is going ahead next year, J. Front are now considering preserving the historic facade.

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Secondhand apartment prices in October – Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 40,660,000 Yen in October, up 0.6% from the previous month and up 3.3% from last year. This is the seventh month in a row where prices have seen a month-on-month increase.

In Tokyo’s central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 54,580,000 Yen, up 1.0% from the previous month and up 7.0% from last year. The average apartment age was 21.0 years.

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Osaka sees first net inflow of new residents since 1973

The Ministry of Internal Affairs and Communications released information on the migration movements within Japan in 2011 using data from the basic resident registers. Iwate, Miyagi and Fukushima Prefectures each saw a net outflow as residents moved out of the disaster-struck areas. The number of residents moving out exceeded the number of residents moving in to these three prefectures by 41,226. This is the first time since 1970 that the number has exceeded 40,000 residents.

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