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A third of apartments in central Tokyo sell at full asking price

A third of apartments in central Tokyo sell at full asking price

A common question we get from buyers is how much of a discount can they get on the asking price of a property. The honest answer is that it varies. Some properties will sell at their full asking price, while others may sell at a discount. Typically two-thirds of all reported apartment sales in central…

16-fold rent increase for shopkeepers at Asakusa’s Sensoji temple

16-fold rent increase for shopkeepers at Asakusa’s Sensoji temple

Shopkeepers alongside the Nakamise shopping street, a 250 meters long souvenir shop-lined pedestrian mall leading to Sensoji temple in Tokyo, are reeling after being hit with a potential 16-fold increase in store rents. In September, Sensoji temple informed the tenants of plans to increase the rent from the current level of 15,000 Yen per month…

Landlords: Ending a lease is not easy

Before buying an investment property in Japan it is important to understand how tenancy laws work. What may be acceptable in one country is not necessarily allowed in Japan where tenant rights are strong. A big difference to be aware of is how to end a rental lease as a landlord. Why would you want…

Real estate company reported to prosecutors for illegal BnB in Kyoto

Kyoto’s Economic Crime Investigation Division and the Ukyo Police Department have sent papers to prosecutors on a Nagoya-based real estate company under suspicion of illegally renting out a house in Kyoto City to tourists. A total of five people from the company, including the company president, are accused of acting as an intermediary for the…

The Parkhouse Shinjuku Gyoen has reached completion

The Parkhouse Shinjuku Gyoen has reached completion

Construction of The Parkhouse Shinjuku Gyoen, a 14-storey condominium located directly across the street from the Shinjuku Gyoen National Garden, reached completion last month. The building contains 52 luxury residences ranging in size from 55 ~ 100 sqm (592 ~ 1,076 sq ft). When sales began back in early 2016, apartments were priced from 64…

Tokyo Apartment Sales in October 2017

Tokyo Apartment Sales in October 2017

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of October 2017:

Banks urged to take care when lending on investment properties

According to Japan’s Financial Services Agency’s Financing Report, the average vacancy rate for investment-grade apartment buildings is estimated to be around 7%. For ‘apaato’-type buildings less than 5 years old, the average vacancy rate was just 2.6%, but for a 10-year old building it was 7.1% and 11.6% for 20-year old buildings. As buildings age,…

Apartment development focusing on city centers as buyers shun suburbs

Apartment development focusing on city centers as buyers shun suburbs

In Tokyo’s 23 wards, 4.98% of the land is being used for condominium buildings, an increase of 1.02 points over the past 10 years. The ratio is higher in central Tokyo, with some districts having a ratio of around 9%, signaling a clear shift towards living closer to the office and city center. The report,…

New apartment prices in Sendai City fall 5% in the first half of 2017.

New apartment prices in Sendai City fall 5% in the first half of 2017.

According to DG Communications, the average price of a new apartment in Sendai City in the first half of 2017 was 42,940,000 Yen, down 4.8% from last year.  The average price for the year of 2017 is also expected to decrease from last year, marking the first decline since 2011. Following the 2011 earthquake, a…

Kyoto City might limit some Airbnb-type rentals to just January and February months

Kyoto City has started official discussions that may see Airbnb-type short-term rentals in certain residential zones limited to just the January and February months and for no more than 60 nights in total. Hosts looking to rent out places in primarily residential neighbourhoods in central Kyoto, including areas around Kinkaku-ji temple and Nanzen-ji temple, may…

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