Ebisu apartment rental offers Tesla car sharing
Landlords continue to get creative with their rental properties with one in Ebisu offering a Tesla car share for residents. A Tesla Model Y will be available for rental to the building’s residents from April.Read more
Office vacancy rates in Tokyo shrink for 8th month in a row
The average vacancy rate for existing office buildings in Tokyo’s central five districts has seen a month-to-month decrease for the past 8 months. In January, it decreased by 0.15 points from the previous month to 5.17%. This is the lowest level seen since January 2021.Read more
Roppongi site sells for 63.4 billion Yen
On February 16, Bridgestone reported the sale of a company housing compound in Roppongi to an unnamed buyer for a staggering ¥63.4 billion (US$422 million) profit over its original book value. A private bidding process took place last year, drawing quite a bit of interest. The land had been originally held by the Bridgestone family since 1897. The traditional residence was destroyed in WWII air raids.
Omotesando retail to sell for 5 billion Yen
This retail building in Omotesando is selling for 5 billion Yen. A-FLAG Kotto-dori is being sold by the Activia Properties REIT with delivery to take place by the end of May. The buyer is an unnamed domestic corporation.Read more
Vacant office building in Tokyo sells for 30% premium
A 13-story office building in Takanawa, Tokyo, has just been flipped for a 7 billion Yen gross gain over the span of a year.Read more
Greater Tokyo sees net inflow of 126,000 residents in 2023
Greater Tokyo, which includes Tokyo, Kanagawa, Saitama and Chiba Prefectures, recorded a net inflow of 126,515 residents in 2023, a 27% increase from 2022.Read more
Platinum Avenue office sells for 8 billion Yen
Last month, Orix JREIT signed an agreement to sell this office building alongside Platinum Avenue in Shirokane for ¥8.78 billion. The cap rate would be in the high 3% range.Read more