Tokyo Apartment Sales in July 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of July 2021:
Former ryokan in Gotanda to become 30-story condo
Asahi Kasei Realty & Residence Corporation is planning a 30-story apartment building for the site of a former ryokan in Gotanda, Tokyo. This property was at the center of a notorious land swindle in 2017 that saw another developer lose 5.5 billion Yen to fraudsters that pretended to own the land.
Nakano Sun Plaza to be redeveloped by 2028
Nakano Sun Plaza, a 48-year old hotel and concert building in Tokyo’s Nakano ward, will be demolished in 2024 and replaced with a new mixed-use building by 2028. The 181 billion Yen (approx. 1.7 billion USD) project will include a 235-meter tall mixed-use office and residential tower with a concert hall and hotel on the lower floors.
Quick real estate news summary for the week
Sapporo’s oldest capsule hotel closes, apartment rents hit a record high, and Keio Plaza Hotel to offer monthly stays. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Ultra-luxury rental apartments for long-idle Daikanyama site
Mitsubishi Corporation Urban Development is starting work on a luxury rental apartment building development in Daikanyama, Tokyo.
Office high-rise now planned for former TSK Building site in Roppongi
There are signs of life on the site of a now-demolished scandal-ridden building in Roppongi.
Apartment transactions in January reach all-time high
The second state of emergency issued on January 7 wasn’t enough to slow buying activity this time around, with REINS reporting that 3,480 second-hand apartments were sold across greater Tokyo in January, up 37.3% from the previous month and up 29.9% from January 2020. This is the highest number of transactions seen for the month of January since REINS began reporting data in May 1990.