Central Tokyo condo price soars to record high in first half of 2023

TOKYO, Jul 21 (Kyodo) - The average unit price of a new condominium in Tokyo's 23 central wards in the first six months of 2023 soared to a record high 129.6 million yen ($930,000) due largely to high material prices and construction costs, a research institute said Thursday.

The price rose 60.2 percent compared to the January-June period a year earlier, exceeding the previous record set in 1991 of 97.38 million yen and surpassing 100 million yen for the first time on the first-half basis, according to the Real Estate Economic Institute.

The result was also affected by some high-value property sales, including units directly linked to a train station in Minato Ward, it said. ...continue reading

Atami’s New Lodging Tax Aimed at Foreign Visitors Draws Criticism from Japanese

As Japan enjoys the economic boost from a surge in foreign tourists, the hot spring town of Atami has introduced a lodging tax in April to tackle overtourism—prompting backlash from Japanese travelers who question why they, too, must pay a fee meant for inbound tourism.

Japanese Emergency Team Begins Work in Quake-Hit Mandalay

A Japanese emergency relief team dispatched by the government has begun operations in Mandalay, a region heavily affected by the recent earthquake in central Myanmar that has claimed more than 3,000 lives.

Exploring the Mystery of Okinawa's Royal Tomb

Shuri Castle, a symbol of Okinawa's Ryukyu heritage, suffered extensive damage in a devastating fire in October 2019 that destroyed the main hall and many other structures. The cause of the blaze remains unknown.

Lack of Carpenters Causing Construction Delays

A deepening labor shortage in Japan’s construction industry is beginning to impact homebuyers, with some experiencing delays of more than six months before construction can even begin due to a lack of available carpenters.

Japan's Imperial Household Launches YouTube Channel

The Imperial Household Agency launched an official YouTube channel on April 1st to introduce the activities of Emperor Naruhito and Empress Masako.

MEDIA CHANNELS

MORE Business NEWS

Luxury Campers Make Comeback in Japan

Over 20,000 people attended the Camping Car Show held last month in Osaka over two days, reflecting a growing interest in campers across Japan. What is driving this renewed popularity?

Lack of Carpenters Causing Construction Delays

Next-Gen Semiconductor Project Kicks Off in Hokkaido

The prototype line for next-generation semiconductors developed by Rapidus is now ready, as a nationwide initiative to boost Japan's chip industry takes a major step forward in Hokkaido.

Japan to Tighten Screening of Foreign Investments

The Japanese government approved a cabinet ordinance on April 1st to introduce a new pre-screening system for foreign companies investing in Japan. The revised regulation will take effect on May 19th.

Economic Outlook Dims for Japan's Industrial Giants

The Bank of Japan's March Tankan survey, a key quarterly economic report, showed that business sentiment among large manufacturers has deteriorated for the first time in four quarters.

Tokyo Starts Mandatory Solar Panels for New Houses

Tokyo has made it mandatory to install solar panels on newly built houses starting April 1st, as part of its broader effort to halve greenhouse gas emissions by 2030.

Sekisui House Holds Entrance Ceremony at Grand Green Osaka

The new fiscal year began on April 1st, with companies across the Kansai region holding entrance ceremonies to welcome new employees.

New Recruits Across Japan Mark First Day as Working Adults

Japan's new fiscal year began on April 1st, with companies across the country holding entrance ceremonies to welcome new employees.

< 2 3 4 5 >