Traditional merchant residence in Gifu to be converted into boutique hotel

Work is well underway on the conversion of a historic and traditional residence in Gifu into a boutique hotel. The former Matsuhisa Residence was built 100 years ago by the operator of a successful wholesaler of Japanese paper materials. The residence was designed to accommodate guests and customers during the Meiji and Taisho eras. The two-story sukiya-style wooden house with tiled roof has a total of 12 tatami rooms, a tea room, and four warehouses. The buildings sit on 2400 sqm of land.

80% of sellers/buyers not choosing home inspections

According to a survey carried out by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in the first half of 2018, only 18% of transactions involved home inspections. 

Between April and September 2018, a total of 5,932 home inspections were carried out across Japan. A total of 12,904 inspections were forecast for the year, almost double the number seen in 2017. Still, this amounts to less than 8% of the 169,000 existing home sales on an annual basis.

Central Tokyo apartment sale prices reach 2nd highest level

According to REINS, 4,117 second-hand apartments were reported to have sold across greater Tokyo in March, up 18.2% from February and up 7.8% from last year. This is the 3rd month in a row to record a year-on-year increase in transactions. The average sale price was 34,900,000 Yen, up 0.3% from the previous month and up 3.6% from last year. The average price per square meter was 539,600 Yen, up 1.3% from the previous month and up 3.6% from last year. 

Kyoto hotels outperform Osaka in 2018

In 2018, the Kansai area was struck by an earthquake in June and typhoon Jebi in September. Although the effects of these two events had very little impact on Kyoto’s tourism industry, they did affect Osaka which saw a drop in visitor arrivals from other Asian countries. STR’s Global Hotel Study for 2018 reported a 7.7% drop in the room revenue index for Osaka, while Kyoto saw a milder 0.2% decrease. 

Given that these two cities are only 13 minutes apart by bullet train, why did Kyoto perform better than neighboring Osaka?

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