Avex looks to sell Omotesando headquarters
On November 10, Toyo Keizai Online reported that major music producer Avex is making moves to sell its 18-story headquarters in Minami Aoyama, Tokyo. Avex would then lease the building back from the buyer.
Tokyo apartment discounts in October
October was an outstanding month for existing apartment sales, with transactions in the Tokyo metropolitan area up 10.7% from September and up 33.5% from October 2019. Across greater Tokyo, transactions hit the highest level since data-keeping began in 1990.
What about discounts?
October apartment transactions in greater Tokyo hit highest level on record
According to REINS, a total of 3,636 secondhand apartments were reported to have sold across greater Tokyo in October, up 31.2% from last year, and the highest number for the month of October since REINS began recording data in 1990. It was a similar story for detached home sales, with transactions jumping 41.8% from last year to 1,316 reported sales - the highest on record.
Tokyo Apartment Sales in October 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of October 2020:
Quick real estate news summary for the week
Homebuilder to provide antiviral coating in new homes, Takanawa condo goes on sale, and Sapporo to have highest tower in Hokkaido in 2023. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Demolition starts on 47-year old apartment building in Takeshiba
Demolition has started on the Hamamatsucho Business Mansion apartment block near Takeshiba Station in Tokyo. This is just the 4th condo-style apartment building in Tokyo to be redeveloped under recent regulations governing the sale of land under aging apartment blocks, and the first of its kind in Minato ward.
NTA says no to revising rosenka land tax values
Bad news for some as the National Tax Agency (NTA) has decided not to re-adjust rosenka land tax values in light of the pandemic. It seems that land values have not fallen enough to trigger any revision.