40-storey apartment tower planned for Shirokane
The Shirokane 1 Chome West Central District Redevelopment Committee announced plans for two 40-storey high-rise apartment buildings. The development site is located on the western side of Shirokane Aer City, which includes the 43-storey, 134m tall Shirokane Tower apartment building.
The redevelopment will include a 140m tall, 40-storey residential building with 900 apartments and a 20m tall factory building. A town planning decision is expected later this year. Construction could start in 2021 with completion by 2025. The total project cost is estimated at 70 billion Yen (approx. 640 million USD).Read more
Rent in Tokyo jumps 4.2% thanks to supply of new construction
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,474 Yen/sqm in December 2017, up 4.2% from the previous month and up 3.6% from 2016. The increase was caused by a larger share of relatively new buildings which typically command higher rents, along with the release of a large number of brand new high-rise apartment towers in Shinjuku and Shinagawa.Read more
Tokyo apartment sale prices increase for 63rd month
According to REINS 3,011 second-hand apartments were sold across Greater Tokyo in December 2017, up 3.7% from the previous month and up 0.6% from the previous year. The average sale price was 33,200,000 Yen, up 3.7% from the previous month and up 6.3% from 2016. The average price per square meter was 519,400 Yen, up 3.5% from the previous month and up 4.3% from 2016. This is the 60th month in a row to see a year-on-year increase in sale prices. The average building age was 20.85 years.Read more
Tokyo Apartment Sales in December 2017
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of December 2017:Read more
Apartment asking prices in Tokyo in November 2017
According to Tokyo Kantei the average asking price of a 70 sqm (753 sq ft) apartment across greater Tokyo was 36,210,000 Yen in November, up 1.1% from the previous month and up 2.1% from last year. The average building age was 23.1 years.
In Tokyo’s 23 wards the average asking price was 53,320,000 Yen, up 0.8% from the previous month and up 1.0% from last year. The average building age was 22.7 years.Read more
Akasaka Twin Tower Redevelopment to be completed by 2024
Mori Trust released additional details on their Akasaka 2 Chome Project earlier this month. The mixed-use office and hotel building will be approximately 210 meters tall with 43 floors and a total floor area of 220,000 sqm (2.3 million sq ft). This is twice the height of the neighboring House of Representatives Members Housing and almost 40 meters taller than Akasaka Tower Residence. It will be similar in height to the recently completed 205m tall Akasaka Intercity Air which is located across the street.Read more