Quick real estate news summary for the week
Tokyo apartment prices continue to reach new highs, Hakuba sees 30% jump in land prices, and Japan loses ground in global real estate transparency ranking. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
100-room condo resort planned for Niseko
A large-scale condominium and resort-style project is planned for the winter ski town of Niseko. Construction is scheduled to start next year, with completion expected in winter 2023.
Standard Land Prices dip for first time in 3 years
The nationwide standard land price, announced yesterday, dropped for the first time in three years. The average across all land uses recorded a 0.6% decrease in 2020, after a 0.4% increase in 2019. In 2018, the nationwide average increased for the first time since 1991.
180m tall office tower planned for Toranomon Station area
Nippon Tochi-Tatemono, Urban Renaissance Agency, and Sumitomo Realty & Development are embarking on a 180-meter tall office tower project for the Toranomon district in central Tokyo.
Historic villa in Hayama to open as holiday rental
A historic 1920s villa in Hayama has been restored and will open up as a short-term holiday rental next month.
Quick real estate news summary for the week
Hong Kong equity firm to invest up to US$8 billion in Japanese real estate, tenants face new screening criteria, minpaku operator closes down, and a major landlord sees occupancy rates fall further. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Troubles continue for Japan’s hotel industry
Several bumper years of growth for Japan’s hotel and tourism industry were brought to a swift end this year as foreign tourists were locked out by international travel bans. Domestic tourism also remains sluggish despite some efforts by the government to subsidize travelers.