Archive For The “Tokyo” Category

Foreign funds spend 1.1 trillion Yen on Japanese real estate in 2017

In 2017, foreign corporations and funds spent a total of 1.1 trillion Yen (approx. 9.7 billion USD) on real estate acquisitions across Japan, a three-fold increase from 2016 and the first time that the annual volume has exceeded one trillion Yen.

Tokyo’s Chuo ward to ban minpaku rentals 5 nights a week

Tokyo’s Chuo Ward is planning to introduce tight regulations that will ban minpaku-style overnight rentals in private residences from midday Mondays through to midday Saturdays, allowing a host to only operate on Saturday and Sunday nights. This regulation will override the new national law that will go into effect from June 2018.

Tokyo apartment sale prices increase for 63rd month

Tokyo apartment sale prices increase for 63rd month

According to REINS 3,011 second-hand apartments were sold across Greater Tokyo in December 2017, up 3.7% from the previous month and up 0.6% from the previous year. The average sale price was 33,200,000 Yen, up 3.7% from the previous month and up 6.3% from 2016. The average price per square meter was 519,400 Yen, up…

Supply of new apartments in greater Tokyo to increase in 2018

According to a forecast by the Real Estate Economic Institute, a total of 38,000 brand new apartments are expected to be released for sale across greater Tokyo in 2018, up 4.4% from 2017 and the second year in a row to see an increase. Depending on demand for buyers eager to purchase before the consumption…

Tokyo’s Chiyoda Ward to impose strict rules on short-term rentals

Tokyo’s Chiyoda Ward has announced plans that could require hosts of minpaku-style short-term rentals required to either live in the property with the guests or within close proximity. The new rules could be introduced in June to coincide and override the national regulations set to go into effect this year.

Tokyo Apartment Sales in December 2017

Tokyo Apartment Sales in December 2017

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of December 2017:

Apartment asking prices in Tokyo in November 2017

Apartment asking prices in Tokyo in November 2017

According to Tokyo Kantei the average asking price of a 70 sqm (753 sq ft) apartment across greater Tokyo was 36,210,000 Yen in November, up 1.1% from the previous month and up 2.1% from last year. The average building age was 23.1 years. In Tokyo’s 23 wards the average asking price was 53,320,000 Yen, up…

Akasaka Twin Tower Redevelopment to be completed by 2024

Akasaka Twin Tower Redevelopment to be completed by 2024

Mori Trust released additional details on their Akasaka 2 Chome Project earlier this month. The mixed-use office and hotel building will be approximately 210 meters tall with 43 floors and a total floor area of 220,000 sqm (2.3 million sq ft). This is twice the height of the neighboring House of Representatives Members Housing and…

Average rent in Tokyo drops for 5th month in a row

Average rent in Tokyo drops for 5th month in a row

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,334 Yen/sqm in November 2017, up 0.8% from the previous month but down 0.5% from last year. Average rents have been down year-on-year since July, although they have been showing an increasing trend for apartments in buildings less than…

Tokyo facing office space shortage in prime buildings

Tokyo facing office space shortage in prime buildings

Office vacancy rates in central Tokyo’s business districts continue to shrink with Jones Lang Lasalle reporting almost no vacancies in the main office buildings in the Marunouchi district. After reaching a high of 9.43% in mid-2012, vacancy rates in Tokyo’s central five business districts were down to 3.03% last month – a level last seen…

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