HomeCategory Real estate

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The Japan Rental Housing Management Association has recently launched a “Landlord Cost And Profit Insurance (Rental Management Support) Plan” for members of the association in cooperation with Tokyo Marine Nichidō Fire Insurance Co., Ltd. In the event of an unfortunate incident such as a lonely death, suicide, or death related to a crime (e.g. murder) in rental housing (which are collectively called “jikobukken” in Japanese [事故物件]), this will cover the rent loss and restoration costs...

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First, a definition: “recruitment rent,” or (募集家賃, boshū yachin) is rent for a property currently on the market. Therefore, it excludes properties that are already being rented. For example, if there is a building with three units, and two of them have been renting out for years for ¥30,000 a month with tenants who plan to continue renting, and one of them is currently on the market, listed at the real estate agent’s office for...

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The Building Group announced the results of a survey on March 11, of office building market conditions in major areas of the six major metropolises (Tokyo, Nagoya, Osaka, Fukuoka, Sapporo, and Sendai) for February 2020. The survey targeted office buildings with a vacancy rate of 100 tsubo* (330.579 square meters) or more of standard floor area and office buildings with rental contracts for estimated amounts of 100 to 300 tsubo (991.736 square meters). The average...

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The Japan Housing Finance Agency announced on February 2 the applicable interest rate for the “Flat 35” (purchase type of mortgage) that would be provided by the financial institution in March. The interest rate for a borrowing period of 21 years or more (in which the buyer pays at least 10% down, with the financial institution financing the rest) now ranges from 1.240% (down 0.040% month-on-month) to 1.870% (down 0.070%). The most frequent rate offered...

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Tokyu Housing Lease Co., Ltd., jointly with Diamond Media Co., Ltd. on January 27, surveyed leasing contracts for leased condominiums nationwide in 2019 regarding lump-sum payments (security deposits, key money, and renewal fees) and published the results. Basically, shikikin (敷金) can be thought of as a “security deposit.” Often, the tenant does not get all (or even any) of it back, even if he/she took good care of the property. “Reikin” (礼金, literally “thanks money”) is...

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The Ministry of Land, Infrastructure, Transport and Tourism released the “Land Price LOOK Report” (Q4 2019), which summarizes trends in the land prices of highly-used land in major cities, on the 14th. The survey was conducted in 43 districts in Tokyo, 25 districts in Osaka, 9 districts in Nagoya, and 23 districts for a total of 100 districts (32 residential districts and 68 commercial districts). During the period under review (October 1, 2007-January 1, 2008),...

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Japan Management Center Co., Ltd. announced on December 10 the financial results for the fiscal year ending on December 31, 2019 (consolidated). For that fiscal year (January 1, 2019-December 31, 2020), sales were 43.302 billion yen (up 0.4% year on year), operating income was 2.202 billion yen (down 22.9%), and ordinary income was 2.213 billion yen yen (down 22.5%). Net income of was ¥1.506 billion (down 22.6%). SG & A expenses increased due to increased...

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Often, Japanese wooden houses make news headlines, even in the Western press, for being short-lived; it’s claimed that the lifespan of a Japanese house is about 30 years. The Japanese government considers a wooden house “fully depreciated” after only 22 years (though that’s well-known as an underestimate). However, this is probably because most Japanese homeowners don’t perform the necessary maintenance, repairs, and renovations. According to the Faculty of Engineering at Waseda University, the average Japanese...

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Tokyo Kantei Co., Ltd. announced on January 23 the prices of second-hand (existing) apartments, in three major metropolitan areas in 2019. They adjusted the values for ease of comparison. Tokyo Kantei Co., Ltd. adjusted the numbers so that apartments smaller than 70 square meters would have their floorspace and prices adjusted upward, and apartments larger than 70 square meters would have their floorspace and prices adjusted downward. Therefore, the sizes would be equivalent, at 70...

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On March 15, Sanko Estate Co., Ltd. officially announced market data for five wards in central Tokyo (Chiyoda, Chūō, Minato, Shinjuku, and Shibuya) and six major cities or metropolises (Tokyo, Sapporo, Sendai, Nagoya, Osaka, and Fukuoka). The market data regards large-scale building (standard floor area for rent of ​​200 tsubo or more). The vacancy rate in the five central wards of Tokyo was more or less flat at 0.59% (down 0.09 points month-on-month), falling to...