Archive For The “Kyoto” Category

Real estate company reported to prosecutors for illegal BnB in Kyoto

Kyoto’s Economic Crime Investigation Division and the Ukyo Police Department have sent papers to prosecutors on a Nagoya-based real estate company under suspicion of illegally renting out a house in Kyoto City to tourists. A total of five people from the company, including the company president, are accused of acting as an intermediary for the…

Kyoto City might limit some Airbnb-type rentals to just January and February months

Kyoto City has started official discussions that may see Airbnb-type short-term rentals in certain residential zones limited to just the January and February months and for no more than 60 nights in total. Hosts looking to rent out places in primarily residential neighbourhoods in central Kyoto, including areas around Kinkaku-ji temple and Nanzen-ji temple, may…

Residents in Kyoto neighborhood ban short-term rentals

Residents in Kyoto neighborhood ban short-term rentals

Residents of the Shimoseizoguchicho address in Kamigyo Ward, Kyoto, have received city approval for neighborhood bylaws that will ban Airbnb-style rentals, apartment buildings and enforce strict height limits. This is expected to be a model case for neighborhoods struggling with a rise in short-term accommodation facilities and apartment development.

Dubious development site in Kyoto finds buyer

Dubious development site in Kyoto finds buyer

An offshore buyer may have been found for a large block of land with an interesting history in central Kyoto. The land is located in one of Kyoto’s leading tourist areas.  Amidst a booming tourism industry and improving real estate market, a property such as this should have buyers lining out the door to bid…

Japan’s supply of new office space hits lowest level since 1980

Japan’s supply of new office space hits lowest level since 1980

According to the Japan Real Estate Institute, 1.35 million square meters (approx. 14.5 million sq ft) of new office space was supplied across the country in 2016, down 25% from 2016 and the lowest level seen since 1980. 84% of the new supply was centered in Tokyo’s 23 wards. Sapporo, Sendai, Saitama, Kyoto and Kobe…

Kyoto may impose hefty tax on short-term accommodation hosts

Kyoto City is firming up plans to impose a nightly tax on providers of short-term accommodation, or ‘minpaku’-type rentals. If approved, it could go into effect from October 2018. Under the proposal, hosts or providers may be taxed at 200 Yen per night on accommodation that is priced at under 20,000 Yen per person, per…

Hublot moves into historic machiya in Gion, Kyoto

Hublot moves into historic machiya in Gion, Kyoto

Swiss watch brand Hublot will be opening up a boutique in an old machiya-style townhouse in Kyoto’s famous Gion district on August 26. The previous tenant was Hermes. The shop will feature custom Japanese washi paper and wickerwork replicating the company’s Show Foto, while customers will receive Japanese-style folding fans as gifts.

Renovated machiya guesthouse in Kyoto makes 1 million Yen in first month

Renovated machiya guesthouse in Kyoto makes 1 million Yen in first month

A renovated guesthouse located just 7 minutes from Kyoto Station has made a gross turnover of 1 million Yen (approx. 9,150 USD) in the first month of operations. Yadoru Kyoto Washi-no-Yado is a 102-year old traditional Kyoto machiya-style townhouse that was given a full renovation and converted into a holiday rental. The occupancy rate for…

Sankei Building to enter Kyoto machiya hotel business

Sankei Building to enter Kyoto machiya hotel business

On July 27, The Sankei Building Co., a Tokyo-based real estate company, announced that they will be entering the Kyoto machiya hotel business. Their first property is a traditional machiya merchant residence located a kilometer from Nijo Castle that is scheduled to open in April 2018. The two-story wooden residence has a total floor area…

New apartment price-to-income ratio drops for first time in 7 years

New apartment price-to-income ratio drops for first time in 7 years

According to Tokyo Kantei, the average price of a brand new apartment across Japan was 7.59 times the average annual income in 2016, down 0.07 points from 2015 and the first drop reported in 7 years. The price-to-income ratio across greater Tokyo was 10.68, down 0.31 points from 2015, and the first decline seen in…

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