Historic Gakushi Kaikan to be partially demolished
Demolition of half of the historic Gakushi Kaikan (学士会館) will start in 2025. The property was built in the 1920s and 1930s as club facilities for graduates of several national universities, and registered as a National Tangible Cultural Property in 2003.Read more
Tokyo skyscraper to have 1000kW solar panel facade
A 230-meter tall skyscraper in central Tokyo will be the first high-rise in the world to incorporate a large-scale perovskite solar cell (PSC).Read more
Banyan Tree hotel to open in Hakuba
In an interesting shift in plans, Banyan Tree’s first ski resort hotel in Japan will now be located in Hakuba instead of Niseko. A 156-room hotel across six buildings is planned for a 33,000 sqm site adjoining the Happo-One ski slopes in Hakuba, with opening tentatively scheduled for 2026.Read more
Luxury hotel for Tottori Sand Dunes
In 2026, Marriott International will open a The Luxury Collection-branded hotel near the Tottori Sand Dunes alongside the Sea of Japan.Read more
Office vacancy rate in Tokyo hits 33-month low
The office vacancy rate for existing buildings in central Tokyo’s five business districts reached a 33-month low in October. According to office brokerage Miki Shoji, the vacancy rate was 5.36%, down 0.71 points from last year and the 16th month in a row to record a year-on-year decrease. During the month, around 4,000 tsubo (13,220 sqm or 142,000 sq.ft) of space was absorbed thanks to some large-scale leases.Read more
Foreign tourist arrivals finally exceed pre-pandemic level
Last month, inbound tourist arrivals exceeded pre-pandemic levels for the first time. A total of 2.51 million foreigners visited Japan, up 0.8% from October 2019. The rate of increase is 28% if tourist numbers from mainland China are excluded.Read more
Osaka Maritime Museum to sell for 0.3% of original cost
Built at a cost of 17.6 billion Yen, this long-closed museum was recently offered for 56 million Yen, or just 0.3% of its original cost.Read more
Japan’s skyrocketing hotel prices
A quickly recovering inbound tourism industry coupled with a labor shortage has caused hotel rates in some areas in Japan to far exceed pre-pandemic pricing.Read more
Omotesando low-rise rumored to sell for 25 billion Yen
Last week the Nikkei Real Estate Market Report announced that the rumored sale price of the Forest Hills retail and office building in Omotesando was 25 billion Yen (approx. US$165 million).Read more
A quick look at Harumi’s office market
Let’s take a look at Harumi’s office market as there are some noticeable vacancies this year.Read more