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Omotesando’s Seihou Building to be redeveloped

Omotesando’s Seihou Building to be redeveloped

A 51-year old retail and public housing building alongside Aoyama Dori Avenue in Omotesando will soon be rebuilt. The 10-storey Seihou Building was built in 1967 and has a total floor area of 6,075 sqm (65,000 sq ft). It is jointly owned by a subsidiary of Mizuho Bank and the Urban Renaissance Agency. The new…

Apartment prices along Tokyo’s Ginza Line in 2017

Apartment prices along Tokyo’s Ginza Line in 2017

According to Tokyo Kantei, the average asking price of a second-hand apartment along the Ginza subway line in 2017 was 1,047,000 Yen/sqm, down 0.8% from the previous year. The average building age was 22.4 years and the average apartment size was 56.19 sqm (605 sq.ft). Ginza in top spot The most expensive station was Ginza…

Apartment asking prices in Tokyo in December 2017

Apartment asking prices in Tokyo in December 2017

According to Tokyo Kantei the average asking price of a 70 sqm (753 sq ft) apartment across greater Tokyo was 36,150,000 Yen in December 2017, down 0.2% from the previous month but up 1.3% from 2016. The average building age was 23.1 years. In Tokyo’s 23 wards the average asking price was 53,400,000 Yen, up…

Share house investors left high and dry

Investors in share houses have been left struggling to make loan repayments after their subleasing companies failed to make rental payments to landlords. A non-profit support center for landlords reported over 100 calls from distressed property owners over the past month. Two different share house operators have recently reneged on their sublease agreements with landlords….

Jingu Stadium may sell air rights to pay for redevelopment

Jingu Stadium may sell air rights to pay for redevelopment

The Japan Sport Council and Meiji Shrine are reported to be considering the sale of the air rights above the Meiji Jingu Stadium and Prince Chichibu Memorial Rugby Stadium in central Tokyo to help cover the stadiums’ redevelopment costs.  Both stadiums are located near the Olympic Stadium.

40-storey apartment tower planned for Shirokane

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…

Price of investment-grade studio apartments reaches record high in 2017

According to Kenbiya, a multi-listing site that specializes in investment properties across Japan, the average asking price of a studio apartment in Tokyo and Osaka in 2017 reached the highest level since record-keeping began in 2006. The average asking price of a studio apartment in Tokyo’s 23 wards in 2017 was 19,610,000 Yen, up 9%…

Japan’s first Hilton Curio Collection hotel to open in Karuizawa

Japan’s first Hilton Curio Collection hotel to open in Karuizawa

Tokyu Land Corporation has entered into a franchise agreement with Hilton Hotels & Resorts to open Japan’s first Curio Collection by Hilton hotel in Karuizawa. KYUKARUIZAWA KIKYO, Curio Collection by Hilton is the rebrand of the former Kyu-Karuizawa Hotel that was acquired by Tokyu in March 2017. It is scheduled to re-open in spring of…

Rent in Tokyo jumps 4.2% thanks to supply of new construction

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…

Foreign funds spend 1.1 trillion Yen on Japanese real estate in 2017

In 2017, foreign corporations and funds spent a total of 1.1 trillion Yen (approx. 9.7 billion USD) on real estate acquisitions across Japan, a three-fold increase from 2016 and the first time that the annual volume has exceeded one trillion Yen.

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