Department Store plans 500 billion Yen redevelopment

Isetan Mitsukoshi Holdings is planning to invest 500 billion Yen (approx. US$3.2 billion) in a large-scale redevelopment project in the neighborhood around its landmark Isetan Shinjuku Department Store. This redevelopment plan is expected to boost annual department store revenues by 100 billion Yen.Read more

Developer acquires Omotesando site

A domestic developer acquired a 450 m2 development site in Omotesando in February. The property was sold off-market and the transaction price was not reported, although we have an idea of market pricing in this neighborhood.Read more

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