Appliance manufacturer acquires Forest Hills in Omotesando
Rinnai Corporation has acquired Forest Hills East and West in Omotesando for an undisclosed price. The two buildings have a total floor size of 5,551 sqm (59,700 sq.ft) and sit on 1,843 sqm of land in the Minami Aoyama 4 Chome address.Read more
Developers bow to government pressure to limit speculation on Harumi Flag apartments
Demand for apartments in Harumi Flag has reached such an unprecedented level that the developers have had to quickly implement some changes to quell speculative buyers and satisfy the Tokyo metropolitan government.Read more
Tokyo sees 34% increase in sales of apartments priced over 100 million Yen
According to REINS, a total of 1,867 second-hand apartments were reported to have sold in the Tokyo metropolitan area in March 2023, up 10.4% from the previous month and up 3.4% from last year.Read more
2,800 reservations as Athlete’s Village high-rise prepares to go on sale
Sales in the 50-story high-rise in the former Athlete’s Village are scheduled to start this June, with the most expensive apartment priced in the 349 million Yen (US$2.64 million) range.Read more
Ascot acquires three rental apartment buildings
Ascot Corp., a part of Ping An Group, has acquired three rental apartment buildings in Tokyo for an undisclosed price.Read more
Tokyo Apartment Sales in March 2023
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2023:
Nationwide land values increase for 2nd year in a row
The nationwide Assessed Land Values (koji-chika), as issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) saw a year-on-year increase in 2023. This is the second year in a row to see an increase. The growth is apparent not only in urban centers, but is also spreading to regional areas as the country emerges from the pandemic.Read more