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.
New apartment supply drops 8% from last year
According to the Real Estate Economic Institute, the supply of brand-new apartments released for sale across greater Tokyo in August dropped 8.2% from last year to 1,669 units. This time last year saw the release of several hundred apartments in the Harumi Flag Athlete’s Village conversion project on Tokyo Bay.
Osaka sees steep drop in registered short-term accommodations
Almost a third of Osaka’s short-term ‘minpaku’ listings have been deregistered by their hosts since the start of the pandemic.
Historic ryokan sells for ¥212 million
The city of Fuchu in Hiroshima Prefecture will be purchasing a historic ryokan for an estimated 212.5 million Yen (approx. US$2 million).
Quick real estate news summary for the week
New hotel opens in Karuizawa, typhoon damage to Japan’s oldest apartment building, and office rents drop for the first time in 7 years. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.