Japan's land prices see highest rate of growth since 1991
Standard Land Prices were announced on September 16, and the nationwide average increased for the 4th year in a row with 1.5% growth in 2025. Residential land values increased by 1.0% and commercial land by 2.8%, both recording the highest rate of growth since 1991.Read more
Land prices continue to increase across the board
Japan’s land prices increased for the sixth straight quarter, according to the latest LOOK Report published by the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) on August 29.
In the second quarter of 2025, land prices saw a 0 ~ 3% increase in 75 of the 80 surveyed locations, and a 3 ~ 6% increase in five locations. Residential land values increased across all surveyed sites for the 13th consecutive quarter. For commercial land, Yokohama’s Minato Mirai district slowed to a 0 ~ 3% rise after a 3 ~ 6% increase in the first quarter, while Tokyo’s Nakano Station area accelerated to a 3 ~ 6% gain.Read more
Apartment rents reach record high in Tokyo, decline elsewhere
The average asking rent of an apartment in Tokyo’s 23 wards reached a record high of 4,851 Yen per square meter in July. This is the sixth consecutive month to set a new price record. Rents were up 1.0% from the previous month and 12.2% from last year. Meanwhile, Yokohama, Saitama, Chiba, Osaka, and Kobe city all saw a drop in year-on-year rents. Read more
Mitsui to double investment in data centers
Mitsui Fudosan has announced plans to invest an additional 300 billion Yen (US$2 billion) in data center development by 2035, doubling down on its commitment to digital infrastructure in response to growing demand from sectors like generative AI and 5G.Read more
Tokyo apartment rents hit new high in June
Asking rents in Tokyo’s 23 wards reached 4,803 Yen per square meter in June, up 2.4% from the previous month and up 10.8% from last year. The increase is somewhat the result of a larger share in brand-new and near-new apartments, especially luxury apartments in central Tokyo, that have pulled up the average.Read more
Tensions rise over minpaku conversions
Short-term rental conversions are becoming a growing source of tension in Japan’s multi-family sector, with some landlords attempting to illegally force out long-term tenants to make way for profitable short-term guests. At the same time, neighbors are increasingly raising complaints about noise, security, and trash issues. In Osaka City, where ‘minpaku’ (short-term letting) rules are the most relaxed in the country, resident backlash is starting to gain momentum, with city officials now considering launching a project team to introduce countermeasures.Read more
REIT swaps resi assets with student housing operator
Tokaido REIT is swapping student housing and multi-family assets with a student housing operator, with the deals to take place over the next three months. The REIT is acquiring a three-story student housing property in Mie Prefecture with an appraised NOI yield of 5.3%.Read more