Market News
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2022-05-13
China insurer Ping An finds Japan real estate investment partner
More foreign capital is flowing into Japanese residential real estate. Ascot Corp. (headquartered in Shibuya, Tokyo) has formed its first private fund through a joint venture with the Chinese company Ping An Insurance. Ascot plans to acquire MF residential, senior living facilities, and student housing from external developers and funds.
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2022-05-10
Start-up for real estate market digitalization receives more funding
The start-up Sumutasu which aims to speed up transactions in the fragmented Japanese real estate market has received new funding of $8.2 million in equity and $1.6 million in debt. According to a TechCrunch report, total funding since its start in 2018 stands now at $16 million. The platform enables users to access a fair house valuation within an hour and allows direct sales without brokerage fees.
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2022-05-09
Tokyo apartment prices keep climbing for the second year
The average price of a new apartment in the Greater Tokyo metropolitan area reached 63.6 million yen in the fiscal year 2021 which ended by March 30. According to the Real Estate Economic Institute, this price is about 6% higher than in 2020 and 2% higher than the record of 62.14 million yen in the final “bubble year” 1990.
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2022-04-27
Big development around new JR Yamanote station in Tokyo
A new area in Tokyo comes into being – the surroundings of the new Yamanote ring line station Takanawa Gateway. JR East will build four high-rise and one low-rise building with completion planned for 2024 and 2025. Star architect Kengo Kuma (new Olympic stadium) designed the low-rise building as a green oasis in the city.
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2022-04-26
Energy conservation becomes mandatory for residential buildings
The Japanese government will introduce mandatory higher energy conservation of residential buildings from 2025. A revision of the law has been submitted to parliament. This step will increase the building costs but also increase their lifetime. So far, only non-residential buildings with more than 300 square meters are required to abide by energy conservation rules.
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2022-04-22
Mori Building completes Japan’s highest skyscraper
The frame of “Toranomon-Azabudai Project District tower, a 330-meter, 64-story mixed-use high-rise in central Tokyo, was completed. Mori Building and Japan Post are leading participants in the overall urban development project. This is now the tallest building in Japan, exceeding Osaka’s 300-meter tall Abeno Harukas building.
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2022-04-18
Second-hand apartment prices continue to increase
In March 2022, the contract price of existing condominiums nationwide increased 7.1% year-on-year and the contracted price per m² increased 8.7%, both of which were positive for 22 consecutive months. The Centre for the Promotion of Real Estate Sales calculated this increase based on reported transactions in the nationwide sales network.
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2022-04-18
Prices of second-hand apartments continue to rise
In March 2022, the contract price of existing condominiums nationwide increased 7.1% year-on-year and the contracted price per square meter increased 8.7%, both of which were positive for 22 consecutive months. This news means that the value of second-hand condominiums in Japan continues to increase faster than the consumer price index. The trend is beneficial for condominium owners and residential real estate investors.
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2022-04-12
Tokyo office vacancy rate improves in March
Tokyo’s office vacancy rate declined by 0.04 points in March to the still high level of 6.37%. For the first time in two months, the vacancy rate was below the previous month. But average office rents were almost flat in March dropping 52 Yen to 20,366 Yen per tsubo (= 6,162 Yen or 45.30 Euro per square meter) and down 5.5 % year-on-year. These monthly surveys of vacancy rates and rents for 2,600 large office buildings in five wards in central Tokyo are conducted by the broker Miki Shoji.
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2022-04-11
Farewell to Tokyo’s famous Capsule Tower
The demolition of the Nakagin Capsule Tower in the famous Tokyo shopping district Ginza will start on April 12. The building is famous because it is built in the style of metabolism architecture. However, the concrete and steel have decayed in the 50 years since their construction in 1972. Beyond the sad feelings of architecture fans, the demolition symbolizes two strong trends in the real estate market: The building generation of the 1980s is being replaced, while their ownership also undergoes a generational transfer.