Apparel company Onward Holdings has sold a company-owned house in Minami Aoyama for 3.81 billion Yen (approx. 36 million USD). The buyer was developer Tokyu Land.
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Good news coming out of Kyoto last week with word that Shangri-La Group has acquired a large development site on the northern side of Nijo Castle in Kyoto. The 4,700 sqm site is about 100 meters west of our restored machiya townhouse.
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The rosenka land values for 2019 were announced by the National Tax Agency on July 1. Nationwide, land values increased by 1.3%. This is the fourth year in a row to record a year-on-year increase. The rate of growth has also expanded, following 0.7% in 2018, 0.4% in 2017 and 0.2% in 2016. This is the first time to see four years of consecutive growth since 1992.
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Generally speaking, whether you are Japanese or a foreigner, it is possible to buy and own mountainside forest in Japan.
70% of Japan is forest. According to the Forestry Agency, 40% of that is national forest, with the remaining 60% owned by private individuals and companies.
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In 2018, foreign funds purchased 373 hectares of forestry across Japan. According to the Ministry of Agriculture, Forestry and Fisheries (MAFF), there were 30 acquisitions made across seven prefectures.
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The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) plans to publish embankment and liquefaction risk maps online later this year in an effort to provide more transparency for home owners and buyers.
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Real estate developer Asahi Kasei Realty & Residence Corporation has emerged as the successful buyer of a scandal-hit property near Tokyo’s Gotanda Station.
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Sales in a new resort project in Niseko are off to a strong start with all villa lots sold. ‘Intuition’ is a condo-hotel and holiday home resort development by Hong Kong developer Zekkei Properties.
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On February 22, the Cabinet approved a bill that will allow land with unidentifiable owners to be forcibly sold off by a court-appointed trustee, thereby helping to free up some of the vast swaths of idle land across the country with missing owners.
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Something that is on every local investor and real estate agent’s calendar is the announcement of the Chika-Koji assessed land prices by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT). This year’s results came as no surprise to those in the industry, with average land prices increasing for the fourth year in a row. A 1.2% increase nationwide was reported in 2019, a 0.5 point increase from 2018.
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