Osaka’s One Dojima Project to include Four Seasons Hotel
Tokyo Tatemono and Hotel Properties Limited are developing a 195-meter tall, 49-story mixed condominium and hotel high-rise just south of the Osaka / Umeda Station district. This will be the first high-rise development in Japan to have both the Four Seasons Hotel and a condominium in the same building.
Quick real estate news summary for the week
Shibuya office building sells for 6 billion Yen, Hilton to open in Miyakojima, Hankyu closes hotels, and Gifu and Mie both to see largest condo projects in history. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Dentsu sells off estate including Frank Lloyd Wright-designed house
Advertising giant Dentsu Group is selling off two large estates in Tokyo and Kamakura for a combined 30 billion Yen (approx. US$271 million) to an undisclosed buyer. The Tokyo property includes one of just two surviving Frank Lloyd Wright-designed homes in Japan.
Business hotels performing the best in a bad situation
The onset of the pandemic and international travel bans in March 2020 saw occupancy rates in Japan’s hotels plummet. Resort hotels saw occupancy levels drop to just 3.3% during the State of Emergency in May 2020, while traditional ryokans weren’t far behind with 5.9% occupancy.
Tokyo Apartment Sales in March 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2021:
Ginza to get its own High Line
One of the more well-known expressways in downtown Tokyo is about to be converted into an elevated pedestrian promenade and greenway, similar to the High Line park in New York City.
Quick real estate news summary for the week
Fire insurance policy terms reduced, Blackstone to acquire 8 hotels, and apartment asking prices in Tokyo increase for 8th month in a row. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.