Back-to-work trend sees increase in fees for rental meeting rooms
Those rental meeting rooms that you see dotted around central Tokyo are starting to increase their fees as workers return to the office. Prices have increased by as much as 10 ~ 15% over the past two years.Read more
Domestic developer making moves in condo-hotel market
Daiwa House Industry plans to enter Japan’s relatively untapped hotel-condo market by 2026, according to the Nikkei Shimbun newspaper.Read more
Google-related company to buy land in Wakayama
Wakayama City is expected to soon sell a long-idle site in an industrial park to Google-related company, Asa GK, with a datacenter planned for the 37-hectare site.Read more
Okinawa hotel sells for 64 million Yen per key
KDX Realty Investment Corporation is acquiring the trust beneficiary rights to the 340-room Okinawa Prince Hotel Ocean View Ginowan for 22 billion Yen (approx. US$150 million). The sale contract was signed on January 15 with the acquisition to be completed on February 1. The seller was a related party to Kenedix.Read more
Only Tokyo will have a higher population in 2050
Out of Japan’s 47 prefectures, Tokyo will be the only one to see a population that is higher in 2050 than it was during the most recent census in 2020. The rest of the country can expect populations to shrink, some by over 30%.Read more
Tokyo office rents increase for first time in 3.5 years
In December, office rents in central Tokyo saw the first month-on-month increase in 3.5 years. According to brokerage Miki Shoji, the average monthly rent per tsubo was 19,748 Yen (5,975 Yen/m2), up 22 Yen from the previous month and the first increase since July 2020.Read more
A quick look at Japan’s apartment prices over the past 50 years
The Real Estate Economic Institute published a recent report looking back at Japan’s condominium-type apartment market over the past 50 years. The country has experienced a number of economic cycles over the past five decades, including the 1970s oil crisis, the 1980s asset bubble and subsequent crash in the early 1990s, oversupply of new condos between the mid 1990s and mid 2000s, the 2007-2008 global financial crisis, and, more recently, over a decade of loose monetary policy and low interest rates.Read more