Tuesday, March 16th, 2010
According to a March 16 report by Real Estate Economic Institute Co., Ltd., 2,777 brand-new apartment units have been sold in February, which is a 10.7% increase from the previous year, in the Tokyo metropolitan area.
They conclude that the real estate market of the Tokyo metropolitan area has started to show positive signs.
Minato Asset Management
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Wednesday, October 28th, 2009
Dear International Investors and Archaeologists,
I surveyed an apartment building in a residential neighborhood of Omori in Ota-ku this afternoon.
The apartment building’s specifications are as follows.
Location: 7, O0i, Shinagawa-ku, Tokyo (8-min walk to JR Omori station in Ota-ku)
Price: 150,000,000 yen
Land: 249.71 sq. meters
Floor area: 278.24 sq. meters
Built in: 1986
Structure: Wooden / 2 stories
Yield: 8.7% with current operation rate being 100%
Monthly revenue (March): 1,091,000 yen
Omori station is just two stations or about 5 minutes from Shinagawa station. Omori has been popular among Japanese writers. In fact, famous writers have settled in Omori, in particular, hills in the west of the station.
Also, Omori is famous among Japanese people because a shell mound was found by a western scholar for the first time in Japan’s history. When Dr. Edward Morse, a Havard scholar, was casually looking outside from a train from Yokohama for Shimbashi on June 19th, 1877, he found interesting arrangements of shells on cliffs by Omori station. His instinct urged him to dig the area, and he found remains of an old civilization in Japan – stone tools, clay pots, stone axes, stone arrowheads, human bones, animal bones, and so on. They have been registered and treated as important cultural properties since 1975 and been kept at University of Tokyo.
Friday, October 16th, 2009
We read lots of news about current administration, especially we see two topics very positive for Tokyo real estate market.
1. Haneda Air port international hub plan
2. Linear Motor Car plan
1. Haneda Airport is currently focusing on domestic flight and not international flight, but current goverment just announced they will use it for international flight as well. This is pretty positive for Japanese economy to attract more foreign flights from overseas, especially from Asia economic powers.
This changes affects Tokyo real estate market espcially south area of Tokyo such as Oota-ku, Shinagawa-ku, Minato-ku and Kanagawa prefecture such as Kawasaki, and Yokohama.
If this ariport turns into international and 24 hours airport, needs for stay will increase definitely. Also, business activity will pick up as well.
1-① Tokyo monorail will get benefit from this change, and also area around their stations, such as Hamamatsuho station, Tennozu station, and so on will be more popular in the future.
1-② Keikyu will also get benefit from this change and several stations are particulary interesting such as Shinagawa station, Kawasaki satation, Keikyu kamata station, and Heiwajima station.
2. Linear Motor Car Plan
Shinagawa station, Nagoya station, and Osaka station are almost done deal. (But official information is not open yet.)
Tuesday, September 15th, 2009
Dear International Investors,
I showed four apartments to my client on Sunday afternoon. The following is information of one of them.
Name: Takanawa Pair City (a unit on 6th floor)
Location: 4, Takanawa, Minato-ku, Tokyo (7-min walk to Shinagawa station)
Price: 49,800,000 yen
Floor area: 68.75 sq. meters
Structure: RC / 9 stories
Built in: 1976
Maintenance Fee: 22,070 yen/month
Repair Fund: 20,811 yen/month
Other features: In an exclusive residential neighborhood of Shinagawa, Sunny, Quiet, Nice view
Takanawa Pair City is an apartment building with unparalled stateliness. It is built on a 2,194-sq. meter land and is in a very quiet residential neighborhood of Shinagawa.
The 2-bedroom unit we saw is nice. It is sunny and quiet and has a nice view and proximity to greenery. But a bottleneck about the unit is that the room will probably need a major upgrade before delivery. Wallpaper and carpet must be replaced. And the upgrade will probably cost approximately 8,000,000 yen.
Shinagawa is a main gate of Tokyo. In fact, it has functioned as a check-point of the Tokaido which has been connecting Tokyo and other big cities of western Japan (e.g. Nagoya, Kyoto, and Osaka) for about 400 years. The areas around Shinagawa station are bustling with high-rise office buildings on the station’s east and southeast sides, with the world’s first-class hotels and low-rise, high-end, and quiet residential neighborhoods on the western side. Shinagawa is growing. It is a promising place for investment and residence.