Tokyo Commodity Exchange to be demolished

Demolition of former Tokyo Commodity Exchange Building in Nihonbashi-Horidomecho starts this month. The building is just 24 years old.Read more

Tokyo new apartment prices remain above 100 million Yen for 3rd month

For the third month in a row the average sale price of a brand-new apartment in Tokyo’s 23 wards has exceeded 100 million Yen. In May, the average price was 114,750,000 Yen (approx. US$808,000), up 47.9% from last year.Read more

Tokyo remains one of the cheapest international cities for luxury housing

Luxury housing in central Tokyo remains amongst the cheapest in the top global cities. A luxury condominium in Tokyo’s high-end Motoazabu neighborhood is about 59% cheaper than its Hong Kong equivalent and 45% cheaper than one in London, according to the Japan Real Estate Institute.Read more

Expected yields on Japanese real estate remain at historic lows

Despite the turmoil happening in some overseas commercial real estate sectors, investors in Japanese real estate continue to anticipate record-low yields. That may be due in part to low interest rates which make it one of the few places with a positive yield spread over government bonds. The latest investor survey by the Japan Real Estate Institute in April shows expected yields have either remained the same or dropped, depending on the asset class and location.Read more

Government approves 11ha Shinagawa redevelopment

The proposed redevelopment of the Grand Prince Hotel in Shinagawa is progressing with the Minister of Land, Infrastructure, and Transport issuing project approval on June 1.Read more

150-meter tall skyscraper planned for Shibuya’s Koen-dori Street

There are tentative plans for a redevelopment alongside Shibuya’s Koen-dori Street that could see a 150-meter tall, 34-story tower go up in the coming years. This will exceed the height of the 136-meter tall Park Court Shibuya The Tower condominium located 40 meters away.Read more

Honda Aoyama Building to be redeveloped

Honda Motor Company is planning to spend 50 billion Yen (approx. US$356 million) to redevelop its headquarters above Aoyama Itchome Station in central Tokyo.Read more

Omotesando office/retail buildings sold to domestic buyer

Two buildings alongside Omotesando’s Kotto-dori Street have been sold to a Kobe-based realtor.Read more

Luxury rental apartments planned for 7,000 sqm site in Omotesando

Action is finally underway for the long-idle site of the former Floracion Hotel in Minami Aoyama with Sumitomo Realty & Development announcing plans for a 70-unit luxury rental apartment building.Read more

Further restrictions on Harumi Flag apartment sales

Further sale limits have been imposed on the Harumi Flag project on Tokyo Bay to curb speculation. The repurposed Athlete’s Village condos have seen as many as 100 ~ 200 purchase applications per apartment as speculators seek to flip them once complete.Read more