Toshima plans to ban new minpaku operations in 70% of ward
Toshima Ward in Tokyo announced its planned revisions to its ‘minpaku’ short-term accommodation regulations. The proposal will see operations limited to 120 days per year, down from a current limit of 180 days, while banning any new operations in 70% of the ward. This has been revised from a September proposal which would have seen operations limited to just 84 days out of the year and restricting operations to 50% of the ward.Read more
Marriott to operate hotel on Lake Akan
Marriott International is reportedly signing on to operate a hotel on the shores of Lake Akan in what will be the first internationally-branded luxury hotel in eastern Hokkaido. The 100-room hotel is scheduled to open in 2028.Read more
Tokyo’s Chiyoda Ward to investigate vacant apartment issue
With home prices continuing to rise, Tokyo’s Chiyoda Ward is preparing to embark on an investigation into its vacant apartments, with the aim of increasing the supply of affordable rental housing by providing subsidies to property owners for renovation work on rental apartments.Read more
Mixed-use project announced for historic Uraga Dock in Yokosuka
Yokosuka City has decided on a developer for the historic Uraga Dock, announcing that Team Perry’s Group has been give preferential negotiation rights. The group has proposed a 100 billion Yen (approx. 650 million USD) project that will include apartments, a hotel, retail, sports center, and aged-care facility.Read more
City buys back land from Malaysian developer
Izumisano City in Osaka has bought back a two hectare land parcel it had previously sold to a Malaysian developer. The site was slated to be developed into a 50 billion Yen hotel and residential project, but stalled in the pandemic.Read more
Kitakyushu City looking for buyer of 88-yr old historic building
Kitakyushu City is looking for a buyer for a historic former office in a prominent location in the Mojiko tourist area, with bids starting from 93 million Yen (approx. US$620,000) for the building and land. The property is back on the market after a Hong Kong investment fund struggled to raise the necessary funds after winning the bid to lease the property in 2019.Read more
Tokyo rents peak as landlords seek lower rents on new-builds
The average advertised rent of an apartment in Tokyo's 23 wards was 4,809 Yen per square meter in September, down 1.0% from the previous month as landlords of new-builds adjust rents downwards to meet lower-than-expected tenant demand. This is the first monthly drop in 10 months.Read more