Malaysian resort developer and operator, YTL Hotels & Properties, have announced plans for a new 125 unit resort in Niseko’s Higashiyama Ski area. Construction of “Hinode Hill” is scheduled to start in June, 2011 with completion expected in December, 2013.
The apartments will be located to the west of the recently refurbished Greenleaf Niseko Village Hotel. The buildings will be 7 and 8 storeys with basement carparking and pool and onsen facilities. The 1~3 bedroom units will be fully furnished.
The Niseko ski area was previously very popular with Australians, but is now seeing an influx of Chinese and Asian tourists.
Size range: 30.07 – 161.68sqm (320 – 1740 sqft)
Average Price: 1,164,000 Yen/sqm (1352 USD/sqft)
As part of the redevelopment of the Ohashi area, Cross Air Tower will incorporate both commercial and residential space. The 9th floor will have a public library, a Ward office for Meguro-ku and a health & welfare center.
The residence will feature a grand lobby, concierge service, gym, resident lounge on the 39th floor, party room, guest suite, a kidsroom designed by BorneLund on the 6th floor and a “community lounge” on the 3rd floor with café services. A supermarket is also expected to occupy the 2nd floor.
The building will also have access from the 9th floor to the 7,000 sqm park that is currently being built above the new Ohashi Junction. The park is expected to be completed by 2012. Read more…
Continue reading for photos and floorplans of the most expensive apartments in Tokyo.
Apartments in this building have doubled in value since it was built in 1980. The average price when this apartment was first built in 1980 was 515,000 JPY/sqm (575 USD/sqft). In the midst of the financial bubble, the average price in 1991 was 5,750,000 JPY/sqm (6,435 USD/sqft) – a price increase of 1117% !
This building is part of the “Homat Series” of luxury apartments which are known for having large western-style units and are popular with expat families and Embassy workers. Although many of the buildings are 20~30 years old, they have a cult following as “vintage mansions”.
Homat Capital average price per sqm:
1980 515,000 JPY
1985 1,744,000 JPY
Price range: 98.7 – 203.7 million JPY (~ USD 1.2 – 2.45 million)
Size range: 99.84 – 175.75 sqm (1,074 – 1,890 sqft)
Average price: 1,045,000 JPY/sqm (~ 1,170 USD/sqft)
A new low-rise apartment complex by Ibex has just been completed in the Shirokane area. All of the designer apartments are duplex or triplex type and many have spacious rooftop balconies. The area is good, but the exact location of this building is rather undesirable. The south-side of the building is next to the Metropolitan Expressway – ruining the park views. Units facing this direction will have a lot of noise and pollution.
This designer 3-bedroom home in Yokohama has a 2 car garage, garden, Panasonic Home Security, large decks for outdoor entertaining, floor heating, and 4.8m ceilings in the living room.
– Price: 160,000,000 JPY (~USD1.94 million)
– Land: 325.26 sqm
– House: 232.87 sqm
– Built: November, 2009
– Construction: 2 storey wooden frame
– Land Ownership: Freehold
– Road: West side, 4 m Public Road
– 62-15 Asamadai, Nishi-ku, Yokohama
- Yokohama Station – 18 min walk / 10 min drive
– Mitsuzawa Tennis Club – 11 min walk
In the event of an earthquake in Tokyo the major roads will be used by emergency vehicles. To reduce the risk of buildings collapsing onto these major roads, regulations to enforce building owners to conduct earthquake retrofitting are being put in place.
Tokyo Governor, Shintaro Ishihara, made the announcement at a Tokyo Assembly meeting on November 30th. The enforcement will be a first in Japan and will target over 6,000 buildings. The city will seek the opinions of residents and will begin enforcing the new regulations as early as next year.
The targeted areas will be divided into 3 stages, with the first stage focusing on major thoroughfares. Buildings to be affected by this law are mid-to-high rise buildings built prior to 1981 (when a major change in earthquake building standards was introduced) that pose the risk of blocking more than half of the road in the event of collapse.
Nomura Real Estate Development’s “Proud Series” of condominiums have seen strong sales and same-day sellouts for many of their buildings. At the end of November, Proud City Akabane in Tokyo’s Kita-ku had received purchase applications on all 214 units released for sale in the initial offering. The second offering will begin in early January. The apartment building is still under construction and completion is expected by the beginning of November, 2011. There are a total of 284 units priced from 41.3 – 108.8 million JPY and sized between 58.92 – 100.32 sqm.
Apartments in the 24 storey building have an average price of over 786,500 JPY/sqm, and the majority of apartments are priced in the 57 million JPY range.
Earlier this year, Nomura’s 785 unit Proud City Ikebukuro Honcho continuously sold out at each sale offering. Proud Shimura-Sakaue Passage and Proud Gyotoku are also completely sold out, despite completion not due until late 2011.
Other Proud Series apartments currently under construction or development include:
- Proud Motoazabu (Completion: December, 2010)
– Proud Daikanyama (planning stages)
“野村不動産のマンション「プラウド」、即完続き販売好調” The Asahi Shimbun, December 6, 2010
Proud City Akabane Sales Page
The Real Estate Economic Institute has released a report on the luxury rental apartment market in Tokyo’s 23 Wards. Luxury apartments were defined as having a monthly rent of 300,000 JPY or higher. The findings are translated below:
- Total: 27,786 apartments, of which 11,038 are in Minato-ku (39.7%)
– Most expensive apartment was 5,310,000 JPY/Month
The assessment periods are from April, 2005 ~ November, 2008, and from December, 2008 ~ November, 2010. In the previous market assessment from 2008, there were 24,504 luxury rental apartments. Since then, 3282 units have been added to the supply.
A breakdown of the areas and the stock of apartments is as follows:
– Chiyoda-ku: 933 (up from 842)
– Chuo-ku: 2681 (up from 2664)
– Minato-ku: 11038 (up from 10558)
– Shinjuku-ku: 2363 (up from 1606)
– Bunkyo-ku: 449 (up from 265)
– Shinagawa-ku: 1060 (up from 766)
– Meguro-ku: 1195 (up from 1013)
– Ota-ku: 8 (no change)
– Setagaya-ku: 1329 (up from 1323)
– Shibuya-ku: 3067 (up from 2497)
For apartments over 1,000,000 JPY/Month, there were 7,994 units, an increase of 1,412 units. Minato-ku had a total of 5,436 units over this price, and Chiyoda-ku had a total of 651 units over this price.
The top 5 apartments with the highest rent: Read more…
The Nakagin Capsule Tower Building built 1970-1972 is a famous example of Japan’s metabolist movement. Now almost 39 years old, the deteriorating building is plagued with water leaks and asbestos problems.
The capsules were designed for single occupants, but there was also the possibility to connect several with a common doorway for families.
The building consists of two cores to which a total of 140 individual capsules are attached. Each capsule is attached to the core by only four bolts. There is a capsule on public display outside the entrance. Although the capsules were designed to be removable and replaceable, none of them have been replaced yet. Read more…