A newly listed residential block of land in one of the premier residential neighborhoods in Tokyo.
This 225.77sqm (68.3 Tsubo) block of land in Motoazabu is located just a 5 min walk from Azabu Juban’s restaurant and shopping area, and less than 50 meters from Motoazabu Hills.
Land prices have been in continuous decline for the past 19 years, and residential values are 35% of their peak during the bubble, but there are indicators that the market is bottoming out
Tokio Marine Property Investment Management is planning to create a real estate fund and invest in 50 billion (USD588 million) Yen in residential apartments.
The company president, Takashi Uematsu, believes that land prices in Tokyo are bottoming out
Sept 11-12th, 18-20th, 10am – 4pm
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Source: Nikkei Shimbun, June 28 2010
According to real estate information service, Tokyo Kantei, the average price of a 70sqm apartment in the Tokyo metropolitan area increased by 0.7% from April to 29.45 million Yen, making this the second month of continual price increases. The Tokyo, Kanagawa, Saitama and Chiba prefectures have, in total, seen six continual increases for the past six months.
From the Nikkei Shimbun, June 15th, 2010
On June 15th, the Real Estate Economic Institute announced the results from their survey of the Tokyo apartment market for the month of May, 2010.
Designed by famous architect, Tadao Ando (see Wiki page here), this designer apartment building is located just minutes from Roppongi Hills. This 2-bedroom unit is split over 2 levels with a large master bedroom on the lower floor, and a second bedroom on the upper mezzanine floor.
This 2-bedroom apartment in Mita, Meguro-ku, has just been listed on the market. The 3rd floor corner unit has 3 balconies, an island kitchen, den and a guest powderroom. The interior of the apartment was completely renovated in 2007
¥238,000,000
185.46sqm (1,996 sqft)
Victoria Court is a high-grade apartment building located in a quiet residential area of Minamiazabu. The building was originally developed by British Airways as luxury accommodation for their high-ranking expatriate employees and families.
Translated from Yahoo! Japan News, April 13, 2010
The Real Estate Economic Institute announced today that the number of apartments released for sale in 2009 fell by 6% compared to the previous year to 37,765 apartments. This is the fourth consecutive year of decline.
