Apartments in Tokyo continue to shrink in size
Struggling to find a large apartment to buy in Tokyo? There’s a good reason for that.
Brand new apartments over 100 sqm in size supplied across greater Tokyo in 2019 accounted for just 1.9% of total supply. This is a slight improvement from the 1.3% share in 2018.
Japanese developer aquires partial share of luxury Yoyogi rental
Real estate developer Rebita has acquired a partial ownership interest in luxury rental complex Grosvenor Place Kamizono-cho.
New apartment supply in 2019 reaches lowest level in 27 years
In 2019 a total of 31,238 brand-new apartments were released for sale across greater Tokyo, down 15.9% from 2018 and the first time in three years to see an annual drop. Supply has dropped to a third of the level seen in 2000.
Tokyo’s 23 wards saw a 13.9% drop, while Kanagawa saw supply fall by 12.5%.
New apartment supply in December drops 14.3%
According to the Real Estate Economic Institute, a total of 6,392 brand-new apartments were released for sale across greater Tokyo in December, up 94.1% from the previous month but down 14.3% from the previous year.
32-story office tower for Akasaka
The former Kokusai Akasaka Building will be replaced with a 32-story office tower. The new building will have a floor area of 73,000 sqm (approx. 785,000 sq.ft).
Our Japan Property Market Report for 2019
Thank you to all of the wonderful readers over the past year. We appreciate your support and look forward to closely following the Japanese real estate market with you throughout the next twelve months. If you have any feedback, questions or would like to discuss your next real estate purchase in Tokyo, please send us an email.
Nihonbashi’s redevelopment projects between now and 2035
Tokyo’s historic Nihonbashi district continues to transform with several major redevelopments planned between now and 2035. In addition to these new high-rises, there are also plans to move the unsightly aboveground expressway underground, restoring the Nihonbashi river to its original state.