July Market Data

  • Average new apartment price down 3.7% in Tokyo
  • No. of high-rise apartments fall 69.5%
  • Office vacancy rates down in both Tokyo and Osaka

NEW APARTMENT SUPPLY DOWN:

Brand new apartments listed for sale in the Tokyo area in July fell 1.3% compared to a year earlier to 4073 units. This is the second month of decline. This is due in part to apartment showrooms opening for shorter hours to conserve power, less activity by developers and a general constraint in supply as material shortages and restrained buying cause developers to delay sales activity.Read more

by Zoe Ward

Retro apartment in the heart of Omotesando

Price: 37,800,000 Yen SOLD
Location: Kita-aoyama, Minato-ku, Tokyo

Price per sqm: 866,000 Yen

This vintage apartment just behind Omotesando Station has had a full renovation with new natural wood floors, all new water pipes, and new kitchen and bathroom. The renovation was planned by Keiji Ashizawa Design firm - their work is often featured in international design magazines such as Wallpaper, I.D. Magazine and Elle Decor.Read more

by Zoe Ward

Nomura announces new "Ohana" apartments

Nomura Real Estate has announced plans to develop a new brand of low-cost condominium apartments under the new "Ohana" brand. While Nomura's most well-known "Proud" series of apartment buildings are typically priced from 50 ~ 60 million Yen per apartment, the "Ohana" apartments will be priced between 20 ~ 30 million Yen (255 ~ 385,000 USD) each. They hope to sell over 1000 apartments per year with an annual sales target of 30 billion Yen.Read more

by Zoe Ward

Yotsuya Co-Plus - Japan's first privately developed condominium apartment

Yotsuya Co-Plus is Japan's very first privately developed condominium as well as the first of the "Co-Plus" series of apartments.

Although the first condominium was the Miyamasuzaka Apartment built in 1953, this was built by the public housing commission.Read more

by Zoe Ward

Apartment Survey: 40% say now is the time to buy

The latest results from a survey by real estate market research company, Attractors Lab, has shown that only 40% of respondents believe that now is the time to buy an apartment. In April, the month following the Tohoku disaster, that number was 45%.

The same survey was also conducted four times between April, 2010, and January, 2011, and each time over 60% of respondents indicated that they thought it was the right time to buy.Read more

by Zoe Ward

Shuwa Residence Series of Vintage Apartments

The Shuwa Residence Series of condominium apartments first appeared on the scene in the mid 1960s. They were developed by Shuwa Corporation, who went bankrupt in the early 2000's. Numerous in number, they can be seen all over Tokyo and are easily recognizable by their white stucco and often blue tiled roof.Read more

by Zoe Ward

Average apartment rent falls by as much as 1.6% in June

Tokyo Kantei released the results of their survey on rent movements for condominium apartments for the month of June, 2011.

Tokyo City:
Average Rent: 2960 Yen/sqm/month - down 0.5% from MayRead more

by Zoe Ward