Tokyo secondhand apartment prices see first drop in 15 months
According to REINS, 3,642 second-hand apartments were reported to have sold across greater Tokyo in March, down 2.9% from the previous month and down 11.5% from last year. The average sale price was 34,890,000 Yen, down 0.03% from last year. The average price per square meter was 540,500 Yen, up 0.2% from last year.
Tsukiji machiya demolished
The traditional machiya-style townhouse in Tsukiji we featured back in February 2019 when it was listed for sale, has, sadly, been demolished. It will be replaced with a 5-story hotel covering the adjoining vacant lots. Completion is scheduled for February 2021.
How to follow Japan's real estate market in a rapidly changing environment
Real estate price indexes tend to be published 3 months after the fact, so anyone looking for up-to-the-minute details on the impact that the coronavirus is having on Japan’s real estate market needs to consider other sources of information.
Tokyo Apartment Sales in March 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2020:
Sales in Harumi Flag on hold
On March 30, Jiji Press reported that off-the-plan sales in Harumi Flag have been temporarily suspended and the sales showroom closed. The large-scale condo complex on a manmade island in Tokyo Bay was initially planned to be used as the Athletes Village for the 2020 Olympics, but the postponement of the games has thrown a wrench into the scheduling of the post-Olympic refurbishment of the apartments.
Kamiyacho Trust Tower reaches completion
The 180-meter, 38-story Kamiyacho Trust Tower building reached completion on March 16. This high-rise mixed-use tower forms part of the 1.6 hectare Tokyo World Gate complex in Tokyo’s Toranomon district.
TOD’S Omotesando Building sold to Kering
Gucci owner and global luxury group Kering has purchased the Tod’s Omotesando building through a special-purpose company. The seller was a subsidiary of Tod’s.