A brief background of land ownership in Tokyo

Tokyo has origins of inhabitation dating back to 3000 BC. In fact, the Yoyogi-Hachiman Shrine just west of Yoyogi Park in Shibuya has traces of a historic settlement from the middle Jomon period (2500~1500 BC).

By 1800, this was the largest city in the world with a population of over 1 million. The city’s growth and frequent rebuilding over the years, especially during the 20th century, helps to explain why Tokyo is the way it is and how it differs from other international metropolises.

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Tokyo apartment prices increase for 22nd month

Second-hand apartment prices across greater Tokyo have continued to climb. In February, the average sale price was 625,100 Yen/sqm, up 8.4% from last year and the 22nd month in a row to see a year-on-year increase. The average apartment size shrank by 1.7% to 64.36 sqm (693 sq.ft) while the average building age grew by 1.33 years to 23.27 years. In other words, apartments were getting smaller, older, and more expensive.

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Hyatt Regency Tokyo on the market for 100 billion Yen

On February 28, the Nikkei Shimbun newspaper reported that the Odakyu Electric Railway company is considering the sale of the Hyatt Regency Tokyo hotel. The total sale proceeds of the hotel, along with partial ownership of a neighboring office building, could be in the 100 billion Yen (approx. US$870 million) range. Several funds have already expressed interest.

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