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November 22, 2024
 

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REAL ESTATE

A notice put up in front of a near-finished condominium in the city of Kunitachi in Tokyo on Saturday, saying the complex will be demolished
JAPAN
Jun 12, 2024
Near-finished Japan condo blocking Mount Fuji to be razed
The company Sekisui House said in a statement late Tuesday it had "voluntarily decided to discontinue the project."
A residential development under construction in Shanghai in February. Problems in the property sector have had a negative impact across broad areas of China's economy.
BUSINESS / Economy
May 31, 2024
China's factory activity unexpectedly dips as property pain persists
The disappointing number adds to a series of recent indicators showing the $18.6 trillion economy is struggling to get back on its feet.
Many condo complexes are facing challenges in securing sufficient reserve funds for extensive repair projects.
JAPAN / FOCUS
May 30, 2024
Land ministry sets standards for condo repair reserve funds
Large-scale condo repairs typically occur roughly every 15 years.
Official data indicates at least 17,000 South Korean residents have been hit by real estate fraud in recent years, and around 70% of victims are in their 20s and 30s.
ASIA PACIFIC / Crime & Legal
May 27, 2024
Debt, suicide, fraud: South Koreans hit by real estate scams
Authorities draw flak for not doing enough to help victims or punish fraudsters who capitalize on the country's unique jeonse system in which tenants pay huge deposits.
In about a year, Wormann has taken four Tokyo "akiya" (abandoned homes) under his wing — three in Sangenjaya and the most recent in Shin-Nakano.
COMMUNITY / Our Lives
May 27, 2024
The Swede bringing ‘Japandi’ style to Tokyo’s abandoned homes
The 86-year-old building Wormann acquired in Sengenjaya came with not only a degraded structure but also termite damage throughout.
Global investment firms are increasingly seeing hidden value in Japanese companies that own properties that could be sold.
BUSINESS / Companies
May 20, 2024
Bain Capital to boost Japan real estate team as prospects grow
The firm is interested in opportunities around hospitality, data centers and residential properties, among others.
Having succeeded her father, Akira Mori, Miwako Date has been CEO of real estate development firm Mori Trust since 2016.
BUSINESS / WOMEN AT WORK
May 19, 2024
Leading a major property developer with an eye on art and culture
Third-generation CEO Miwako Date is making her mark with Mori Trust's regional luxury hotels.
China’s real estate sector has fundamentally changed in that existing home sales will become the norm, as is the case with developed countries.
COMMENTARY / World
May 19, 2024
China’s housing mess finally comes for Xi’s own
China’s real estate sector has fundamentally changed, in that existing home sales will be the norm, as is the case with developed countries.
A residential area under development by Country Garden in Shanghai in February.
BUSINESS / Economy
May 17, 2024
Old for new: China's latest property market plan off to a poor start
More than 50 cities have launched their own versions of the "swap old for new" program.
A vacant house in Tokyo is seen demolished in January 2020.
JAPAN
May 1, 2024
Number of vacant homes in Japan hits record high of 9 million
The preliminary figure jumped by 510,000 from 2018, when the previous survey was taken, and doubled from 4.48 million in 1993.
A man rides a scooter past apartment high rises under construction in Zhengzhou, China, in January 2019.
BUSINESS
Apr 30, 2024
Strained Chinese cities struggle to pay homebuying subsidies
Some local governments are unable to raise funds to pay promised subsidies, frustrating buyers and casting doubts over future support measures.
The average condo price in central Tokyo's 23 wards came to ¥104.64 million in fiscal 2023, topping ¥100 million for the first time on a fiscal year basis.
BUSINESS
Apr 19, 2024
Tokyo-area condo prices hit record high for third year in a row
In central Tokyo's 23 wards, the average condo price rose 5.7% to ¥104.64 million, topping ¥100 million for the first time.
In Japan, there’s a huge gap between how companies value their real estate assets on their books against what those same properties would fetch if sold in the market.
BUSINESS / Companies
Apr 16, 2024
Hidden billions in Tokyo real estate lure activist hedge funds
Billions in value can be unlocked by pressuring companies to sell off holdings, a tactic that activist funds are now employing.
The Tokyo Garden Terrace Kioicho hotel and office complex in Tokyo's Chiyoda Ward
BUSINESS / Companies
Mar 22, 2024
Seibu may sell 36-story Tokyo office building for ¥300 billion, sources say
Japan's highest value property transaction is currently the ¥436 billion sale by the government in 2022 of its stake in another Tokyo office building.
In Tokyo's 23 wards, the average unit price of new condominiums in 2023 soared about 40% from the previous year to ¥114.83 million, topping ¥100 million for the first time.
BUSINESS
Feb 29, 2024
Japan's average condo price hits record high for seventh year in 2023
The nationwide average price was pushed up by rising costs for construction materials and labor.
Japan is eyeing a system that would make it easier for rental housing owners to lease their properties to elderly people.
JAPAN / Society
Feb 13, 2024
Certification system eyed for rental housing with elderly watch services
For certified rental housing, watch services would be provided mainly by local social welfare corporations and nonprofit organizations.
The Aozora Bank headquarters in Tokyo. The bank surprised investors with losses tied to U.S. commercial property, sending shares down by the limit and heightening concern over global banks' exposure to souring real estate bets.
BUSINESS / Companies
Feb 2, 2024
Gamble on U.S. commercial property blows up for Japan’s Aozora
Shares went down by the limit and heightened concern over global banks' exposure to souring real estate bets.
Evergrande, the world's most indebted developer with more than $300 billion of total liabilities, sent a struggling property sector into a tailspin when it defaulted on its debt in 2021.
BUSINESS / Companies
Jan 29, 2024
Embattled China Evergrande ordered to liquidate by Hong Kong court
A liquidation ruling of the developer which has $240 billion of assets will likely jolt already fragile Chinese capital and property markets.
Australian Tayler Paulsen and her Kiwi husband Neil managed to purchase a fully-equipped lodge in Myoko, Niigata Prefecture, for only AU$110,000 (about ¥10 million).
COMMUNITY / The Foreign Element
Jan 29, 2024
In Niigata, a winter (and real estate) wonderland
For Australians and New Zealanders facing expensive prices back home, Japan’s snow country is a hotbed for cheap real estate.
The average price of a new apartment for sale in Tokyo and surrounding areas surged 29% to a fresh high of ¥81 million in 2023.
BUSINESS / Economy
Jan 25, 2024
Tokyo apartment prices reach record high for third straight year
Prices are expected to keep climbing in 2024 even as the economy slows and the Bank of Japan looks to abandon its negative interest-rate policy.
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Ishiba aggravates his own political failures with diplomatic faux pas
Prime Minster Shigeru Ishiba is greeted at the APEC summit in Lima by Canadian Prime Minister Justin Trudeau on Friday. The Japanese leader was criticized for remaining seated while meeting several world leaders at the event.
Japan's 3.31 million visitors in October set monthly record
Kiyomizu Temple in Kyoto in December 2023. Famous autumn leaf colors contributed to increased tourism demand last month from many markets across Asia, Europe and North America, the Japan National Tourism Organization has said.
Japan ranks last in romance satisfaction for second straight year
In a survey of 31 countries, Japan ranked last in terms of those who felt loved, with just 51% of respondents saying so.
Ruling coalition and DPP strike last-minute deal over economic policy
DPP policy chief Makoto Mahaguchi speaks at the party's policy gathering in Tokyo on Wednesday.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
Haruki Murakami's 'The City and Its Uncertain Walls' gives deep deja vu
For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.
Japanese expats in Asia find community through rugby
The Taiwan Fivewoods celebrate their victory at the 2023 Asian Japanese Rugby Cup in December of last year.
In Fukushima, a weekend of prose, poetry and translation
Aomori-based writer JJ Carter presented on tabletop gaming as creative inspiration for building characters and narratives.
For Dr. Nakamats, aging is just experience in action
Though he didn't win the recent gubernatorial election in Tokyo, the 96-year-old Dr. Nakamats' run was seen as inspirational in Japan's aging society.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Construction takes place on the Takanawa Gateway Convention Center in Tokyo, slated to open in 2025.
A boom for business tourism in Japan?
By Kathryn Wortley

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SWCC keeps changing with keyword ‘new challenges’

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