In 2018 the greater Tokyo region (Tokyo, Saitama, Chiba and Kanagawa prefectures) recorded the 23rd consecutive year of net population growth with a net inflow of 139,868 residents (135,600 of whom were Japanese citizens). This is a 16.8% increase from the net inflow seen in 2017 and the second year in a row to record an expansion in the growth rate. Over half of the net inflow were those aged between 20 and 24.
According to REINS, 2,667 second-hand apartments were reported to have sold across greater Tokyo in January, down 10.7% from the previous month but up 1.0% from January 2018. The average sale price was 32,940,000 Yen, down 2.5% from the previous month and down 1.9% from last year. The average price per square meter was 514,600 Yen, down 1.8% from the previous month and down 0.3% from last year. This ends a 72-month streak of year-on-year increases in sale prices.
The Tokyo Metropolitan Government is firming up plans to redevelop the former Tsukiji Fish Market in downtown Tokyo into an international conference and exhibition center. Earlier rumors had suggested the site could become a sports stadium, shopping mall or a food-based theme park.
The last vestige of Hotel Okura’s modernist presence is in line to be demolished as redevelopment plans surface for the Hotel Okura Tokyo’s annex (South Wing).
On January 26, Recruit Sumai Company released a ranking of the most expensive condominiums developed across Tokyo over the past 30 years. Not surprisingly, the most expensive apartments were all built during the bubble years in the early 1990s. The list is missing a few recent high-priced condos such as Toranomon Hills (3,000,000 ~ 4,000,000 Yen/sqm), Park Mansion Roppongi Hinokicho-koen (up to 10,000,000 Yen/sqm), and Branz Roppongi The Residence (2,800,000 Yen/sqm).
Price: ¥138,000,000 (approx. 1.24 million USD)
A traditional machiya for sale in central Tokyo? In the middle of Tsukiji? And a 4 minute walk to a subway line? Yes, yes and yes. Up for grabs is a 3-storey merchant house near the former Tsukiji Fish Market and just behind Hongan-ji Temple.
Japan is currently believed to be experiencing the longest consecutive economic expansion since the end of WWII. The Japanese government’s monthly economic report issued on January 29 noted economic expansion has continued for the past 74 months, starting in December 2012, beating a previous record of 73 months seen between 2002 and 2008.
Price: ¥620,000,000 (approx. 5.6 million USD)
A contemporary, architect-designed home in the trendy Shimokitazawa neighborhood in Tokyo is up for sale. The house, with a floor area of over 4,000 sq.ft, was designed by artechnic and built in 2018. Artechnic has received a lot of attention in design magazines for their ‘Shell’ house in Karuizawa.
Karatsu City in Saga Prefecture has purchased a former Yakuza office at a public auction. The city acquired the property at the request of both prefectural police and the prefectural bar association to prevent it from falling back into criminal hands.
A major online bank in Japan has found several cases of mortgage fraud where borrowers have lied on their loan applications in order to obtain low interest rate home loans on investment properties.