Raffles to open luxury hotel in Tokyo in 2028

On July 22, the World Trade Center Building, Kajima Corporation, Tokyo Monorail, and JR East announced that Raffles will be opening their first hotel in Japan in the World Trade Center Building redevelopment project.Read more

Sharp to repurpose LCD factories for AI and semiconductor-related use

It might have seemed like the end of the line for Sharp’s LCD factories, as strong offshore competition saw the electronics maker face a second year of losses in 2024. With LCD production winding down, the company is repurposing some of its plants across Japan by collaborating with other manufacturers, especially those in the AI and semiconductor space.Read more

Mitsubishi vacating Yokohama office tower

Mitsubishi Heavy Industries is relocating its head office operations from Yokohama to central Tokyo, joining related companies in aggregating its operations in one central location.Read more

Rental apartments in Tokyo see a drop in deposits but a rise in key money

Residential rental listings offering no deposit are on the rise across greater Tokyo, but those offering no key or gift money are becoming less common at certain price points.

Why would landlords be reducing deposits but increasing gift money?

It’s a combination of both market forces and maximizing total rental income for a landlord.Read more

Locals oppose luxury hotel plan for Miyajima, Hiroshima

Residents of Hiroshima's Miyajima island are vehemently opposed to government plans for a luxury hotel. The proposed hotel site is 3 kilometers or 10 minutes by car from the island's famed Itsukushima Jinja Shrine, a popular sightseeing spot for its giant 'floating' torii gate that sits in the bay.Read more

Our 2024 Q2 Japan Real Estate Market Report

Our Japan Real Estate Market Report for the second quarter of 2024 is now available for download. This report dives into recent shifts and news in Japan’s office, multi-family, hotel, retail and logistics sectors.

Members can download our Q2 report below.Read more

Buying a shrine or a temple? There’s a broker for that

A news program recently ran a segment on how temples and shrines are being sold off, typically due to not having any successors or being unprofitable. And some of the interested buyers are foreigners.

There are several companies that specialize solely in the sale of religious corporations. Essentially this is as simple as just recording a change in the company director on the corporate registry. The buildings and land are thrown in for free. Brokers advertise temples and shrines for sale across Japan with prices ranging from 30 ~ 500 million Yen and up. These are not real estate transactions, so no real estate licensing is required, but fees might be around 5% ~ 10% of the transaction price.Read more