Bidding restarted for Sengaku-ji Station high-rise apartment tower
A 160m tall apartment tower is planned for a site located above Sengaku-ji Station in Minato-ku, Tokyo. The project covers a 13,000 sqm site located on the eastern side of the Daiichi-Keihin Road, with the Yamanote train tracks running along the western side. This is reclaimed land that was once part of Tokyo Bay.
In February it was announced that a joint venture between Kajima Corporation, Tokyu Land and Keikyu Corporation had successfully bid on the development. On April 4, the Tokyo Metropolitan Government announced that their bid was disqualified after charges were filed against an executive from Kajima Corporation for allegedly colluding on a bid for the new high-speed maglev train. Read more
Tokyo apartment sale prices increase for 66th month
According to REINS, 3,819 second-hand apartments were reported to have sold across greater Tokyo in March, up 11.5% from the previous month and up 2.7% from last year. The average sale price was 33,690,000 Yen, up 0.5% from the previous month and up 7.1% from last year. The average price per square meter was 521,100 Yen, up 1.8% from the previous month and up 5.7% from last year. This is the 63rd month in a row to see a year-on-year increase in sale prices.Read more
Two floors in ARK Hills sell for 3 billion Yen
Two floors in ARK Mori Building - the office tower in the ARK Hills complex located in central Tokyo - have been acquired by Heiwa Real Estate REIT. Heiwa paid 3.085 billion Yen (approx. 29 million USD) for the trust beneficiary rights to the 30th and 31st floors from an unnamed seller.Read more
30% of old buildings in Tokyo at risk of collapse in strong earthquake
On March 29, the Tokyo Metropolitan Government released data from earthquake resistance inspections on public buildings built to the old ‘kyu-taishin’ earthquake codes (pre-May 1981). A total of 251 kyu-taishin buildings, representing a third of the total, were determined pose some risk of collapse in the event of an earthquake producing a seismic intensity scale (shindo) of a 6-upper or above. Of those, 156 were found to be at high risk of collapse.
The publication of this data is the result of a revision to the Act for Promotion of Renovation for Earthquake-Resistant Buildings that was introduced in November 2013. Under this revision, public buildings used by an unspecified number of people, such as hotels and commercial facilities, with a floor area over 10,000 sqm and built to the old kyu-taishin earthquake codes are obligated to carry out earthquake resistance inspections, the results of which are made public. This also applies to old buildings located alongside emergency roads. Although the revision requires building owners to carry out inspections, there are no obligations or requirements to conduct the retrofitting.Read more
Apartment prices take a dip in Tokyo Bayside island district
According to data compiled by Tokyo Kantei, the average asking prices of second-hand apartments in several districts on the manmade islands in Tokyo Bay have declined over the past two years. This is despite the hype from the upcoming 2020 Tokyo Olympics, which will see several facilities and the Athletes Village constructed on these islands. The report covered family-type apartments listed for sale between June and August 2017, comparing them to average asking prices in 2015 and 2016.
Kokusai-tenjijo Station Area:
Serviced by the Rinkai Line, this station is about 450 meters from the Tokyo Big Sight exhibition hall and opposite the Ariake Tennis Courts and Ariake Colosseum. A 1500-unit large-scale apartment complex is currently under construction not far from this station with completion scheduled in early 2020. Apartments in this new project have an average price of around 1,000,000 Yen/sqm. Meanwhile, the average asking price of a second-hand apartment in this district was 679,000 Yen/sqm, down 5.9% from 2016 and down 8.9% from 2015.Read more
Tokyo Apartment Sales in March 2018
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2018:Read more
New apartments for sale in Tokyo in 2018
Let's take a look at some of the new condominiums that will be completed in central Tokyo this year.
JANUARY
GRAND HILLS MOTOAZABU
Size: 75 ~ 156 sqm (816 ~ 1,681 sq.ft)
Pricing: 175 ~ 850 million Yen
Located in a hilltop position atop the Motoazabu district The 5-storey building has 32 spaciously-sized apartments and is 300 meters from the Azabu Juban restaurant street and 800 meters from Roppongi Hills. Prices range from 2,300,000 ~ 5,500,000 Yen/sqm.Read more