Our 2024 Q4 Japan Real Estate Market Report
Subscribers can download our Q4 report below.Read more
Gap remains between asking rents and tenant budgets in Tokyo
With inflation-adjusted real wages remaining stagnant in Japan, how have residential rents in major cites been faring? If you only look at advertised rents, year-on-year increases of 30 ~ 45% can be seen in some city centers, particularly for family-type rental apartments. But are tenants willing to pay these prices?
In October, listing portal site LIFULL HOME’S published its latest rental data, which separates rental data into advertised rents and those inquired about by potential tenants. The gap between the two has been growing significantly in some cities.Read more
Rents have doubled in this Hokkaido city
The real estate market in Chitose City, Hokkaido, is going through a sudden and drastic change with residential rents and land prices doubling and vacancy rates plummeting.Read more
Central Tokyo's office vacancy rate drops to 48-month low
Tokyo’s office market continues to show signs of gradual recovery as vacancy rates improve and rents stabilize. While bayside submarkets continue to struggle with high vacancy rates, the central business areas have seen vacancy rates contract to a 48-month low.Read more
Sapporo’s office vacancy rate is on the rise
The office vacancy rate in Sapporo’s business district has recently hit an eight-year high. According to Miki Shoji, the vacancy rate was 4.08% in September 2024, up 1.22 points from last year. In existing buildings, the vacancy rate was 2.94%, and in brand-new office buildings it was 49.37%.Read more
Hakuba’s hotel shortage may hinder tourism potential
The rise in inbound tourism is outpacing Hakuba’s supply of hotels, leading to a shortage of beds this ski season. Hotels opened up their winter reservations a month earlier this year and were quickly inundated with bookings from international guests. Many of the village’s hotels are now fully booked for this upcoming season.Read more
REIT disposes of office buildings in Osaka and Tokyo
KDX Realty Investment Corporation sold two office buildings in Osaka and Tokyo this month, one of which sold for 14% less than its book value. The buyers were domestic corporations.Read more