Condos canned as hotel set to stay on
There has been an abrupt change in plans for a hotel in Tachikawa, Tokyo. News of its closure and proposed redevelopment made headlines last June, but the developer appears to have sold the closed hotel to a local real estate company last month.Read more
An overview of Ginza's real estate market for May 2024
Ginza is perhaps the most famous retail destination in Japan. It’s also the most expensive in terms of rent and land prices and amongst the lowest in terms of cap rates. While land values took a dip during the pandemic when the country was closed to inbound tourism for 2.5 years, they have recently returned to positive territory. Below, we take a look at current market rents, land prices, and some commercial properties currently for sale in the Ginza address.Read more
Fortress to buy operator of Seagaia resort
On May 10, Sega Sammy Holdings announced the planned sale of the operator of Seagaia resort in Miyazaki to Fortress Investment Group.Read more
Shinjuku Golden-Gai foreclosure attracts 100 bidders
A public foreclosure auction of a tiny piece of Shinjuku’s famous Golden-Gai bar district attracted 100 bidders last month and ended up selling for over 100 times its reserve.Read more
Gap between studio and larger apartment rental market widens
There is a growing divide in the rental market between the small studio-type and larger family-type apartments in Japan’s major centers. Based on the latest data for the month of March, the gap is widening with larger rental apartments seeing double-digit y-o-y growth in some cities. But is this rental growth reflecting an actual increase in tenant budgets or are landlords just hiking up advertised rents? Let's take a look.Read more
Japan’s shrinking hotel sizes
Hotel construction may have resumed to a normal pace post-pandemic, but the average floor size per building is shrinking rapidly. Nationwide, the average GFA of a hotel built in 2023 was 72% smaller than the recent high seen in 2018.Read more
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