Inbound tourism recovery bolsters hotel occupancy and room rates
With Japan's inbound tourism market now starting to exceed pre-pandemic levels, conditions are looking positive for hotel operators. A recent survey by Tokyo Shoko Research (TSR) found that 80% of the hotels were reporting occupancy rates of 80% and higher. Room rates, too, are now seeing pricing higher than 2019 levels.Read more
Railway company embarks on first student accommodation project
With the coming relocation of a university campus and expectations of a rise in tenant demand, one railway company in west Japan has embarked on its first student housing project. The student rental building will be a 4-minute walk to the new campus and a 9-minute walk to Takamatsu Station.Read more
Single-occupant households to increase by 2.15 million over next 30 years
By 2050, 44.3% of Japan’s population will be single-occupant households. This is according to the National Institute of Population and Social Security Research’s report published on April 12.Read more
Business confidence returns to hotel operators as travel spending exceeds pre-pandemic level
Domestic travel spending by Japanese travellers saw a 14.8% increase in 2023 compared to the pre-pandemic level in 2019. According to the Japan Tourism Agency (JTA), travellers spent an average of 63,212 Yen per person.Read more
Japan now has 9 million empty homes, but not all are ‘akiya’
Japan has 9 million empty homes, according to the latest House and Land Statistical Survey published by the Ministry of Internal Affairs and Communications on April 30. But… this number includes temporarily vacant properties and holiday homes, making the true ‘akiya’ or vacant house number closer to 3.85 million, or 5.9% of total housing stock.Read more
Luxury apartments and hotel planned for Yokohama high-rise
A high-rise tower containing luxury rental apartments and an internationally-branded hotel is set to open in Yokohama in 2027. On April 10, Sumitomo Realty & Development announced details of what’s planned to go in its 40-story mixed-use project located in the Kitanaka district near Bashamichi Station.Read more
Station access is make-or-break for one segment of Tokyo’s office market
Major corporate tenants in Tokyo are placing increasing priority on location as they seek convenience. Offices with better transport access are seeing vacancy rates fall, while those in slightly less convenient locations are continuing to see vacancy rates climb. The difference can be stark.
What’s causing this shift?Read more