Apparel company sells flagship Ginza building
On July 17, apparel giant Sanyo Shokai announced the sale of their flagship building in Ginza. Temporary store closures during the pandemic have hit the brick-and-mortar retail sector hard, with some cashing out of their real estate holdings to shore up cash reserves. Real estate developers are having a field day as struggling companies reach out to offload long-held and highly-prized assets.
260m tall twin-tower project for Shinjuku Station
Two 260-meter tall high-rise towers are rumored for Shinjuku Station. If completed, they would exceed the height of the nearby 243-meter Tokyo Metropolitan Government Building.
Tokyo Apartment Sales in July 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of July 2020:
Commercial real estate transactions emerge from slump
There are already signs that some sectors of the real estate market are emerging from the pandemic-induced slump, with the total commercial transaction value in June recovering by a considerable amount from the record low seen in May.
Quick real estate news summary for the week
Tokyo apartment rents reach a record high, a condo in Tokyo Bay to include shared office space for residents, Nara welcomes a new international hotel, and agents now required to provide information about flood risks. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Harajuku has best apartment resale value in 2019
According to an annual report released by Tokyo Kantei on July 2nd, apartments around Harajuku Station had the highest resale value over a 10-year span. The report ranks 515 stations in the greater Tokyo area by the average difference in the resale value of a 10-year old apartment compared to its price when brand new.
Fujitsu plans to halve office space
Fujitsu is planning to reduce its office space by as much as 50% over the next three years as the company prepares for a permanent shift to telecommuting.