According to the latest quarterly LOOK Report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), land prices at 81.3% of the surveyed locations saw an increase in the third quarter of 2022. This is the highest share seen since the fourth quarter of 2019.
1,396 total views
Panasonic Holdings is buying back its office tower in Shiodome. In 2013, the beneficiary rights to the rental income from the building were sold to two funds for 50.7 billion Yen, after the company reported a record loss of 772.1 billion Yen in 2012.
1,162 total views
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of November 2022:
1,419 total views, 2 views today
Atago Green Hills will be getting a new 160-meter-tall apartment tower in the coming years. This project will potentially see a 43-story high-rise on a 2,910 sqm site. Completion could be sometime in the early 2030s.
1,489 total views
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in Tokyo’s 23 wards reached 69,710,000 Yen in October, up 0.6% from the previous month and up 7.8% from last year. This is the 28th month in a row to see a month-on-month increase. The average building age was 27.6 years.
728 total views, 2 views today
Autumn sales season kicked off last month with 2,768 brand-new apartments released for sale across greater Tokyo, a 36% increase from the previous month and a 34.7% increase from last year.
605 total views, 2 views today
The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,820 Yen/sqm in October, up 0.6% from the previous month. This is the first month-on-month increase in 6 months. Rents are down 0.3% from last year.
714 total views
Tokyo has seen the highest increase in luxury residential prices in Asia, according to Knight Frank’s Prime Global Cities Index for the third quarter of 2022. It also ranked 3rd worldwide, after Dubai and Miami.
1,146 total views, 6 views today
The average price of a 10-year old, 70 sqm second-hand apartment nationwide was 6.54-times times the average annual income in 2021, according to a report by Tokyo Kantei. This is the first time the multiple has exceeded 6 since the research company began recording data in 2008. It is due to the average apartment price increasing by 8.8% to 29.77 million Yen, while the average annual income dropped by 1.5% to 4.55 million Yen.
782 total views
Last month, construction giant Kajima Corporation announced plans to enter the luxury sector of the real estate market, and has already kicked things off with the acquisition of two properties from British developer Grosvenor. Within the year, the company is also expected to complete the purchase of luxury housing to lease to wealthy domestic and foreign tenants.
1,215 total views
