Archive For The “Real Estate News” Category

Roppongi has the lowest rental yields in Tokyo

Roppongi has the lowest rental yields in Tokyo

According to Tokyo Kantei, brand new apartments within walking distance of Roppongi Station had the lowest rental yields in greater Tokyo with an estimated gross return of 2.34%. Across greater Tokyo the average gross yield on a new apartment was 4.44%, and as high as 6.19% for 30 year old apartments. Yields reflect risk and…

Google Japan office relocation signals return of Shibuya’s Bit Valley

Google Japan office relocation signals return of Shibuya’s Bit Valley

On November 17, Google Japan announced plans to relocate their head office to a new office tower near Shibuya Station in mid-2019. Google will be taking up floors 14 to 35 in Shibuya Stream – a 35-storey office tower due for completion in late 2018. The 50,000 sqm (538,000 sq ft) of office space will…

Average rent in Tokyo drops for 4th month in a row

Average rent in Tokyo drops for 4th month in a row

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,308 Yen/sqm in October, up 0.6% from the previous month but down 0.7% from last year. This is the 4th month in a row to record a year-on-year decline in rents.

New apartment prices in Tokyo increase for 7th month

New apartment prices in Tokyo increase for 7th month

According to the Real Estate Economic Institute, 2,817 brand new apartments were released for sale across greater Tokyo in October, down 5.4% from the previous month and down 3.0% from last year. The average sale price was 55,860,000 Yen, down 4.1% from the previous month but up 3.3% from last year. The average price per…

199m tall building for Tsukishima

199m tall building for Tsukishima

A 59-storey, 199m tall condominium is planned for Tsukishima – a manmade island in Tokyo Bay. A town planning decision is expected in 2018, with construction to start in 2022 and completion scheduled for 2025. The Tsukishima 3 Chome North District Redevelopment Project will include approximately 1,120 apartments, as well as retail and childcare facilities…

Gaien House redevelopment to be completed by May 2020

Gaien House redevelopment to be completed by May 2020

The redevelopment of Gaien House, a condominium located just south of the new Olympic Stadium site, is expected to be completed by May 2020. Obayashi Corporation has been chosen by the owners association as the construction company. The new building will be 22-storeys and 86 meters tall with a total floor area of 60,000 sqm….

Tokyo apartment sale prices increase for 61st month

Tokyo apartment sale prices increase for 61st month

According to REINS, 3,103 second-hand apartments were sold across greater Tokyo in October, down 3.7% from the previous month and down 7.1% from last year. The average sale price was 32,090,000 Yen, down 0.5% from the previous month but up 2.3% from last year. The average sale price per square meter was 501,600 Yen, down…

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…

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…

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