Zushi’s newest rental priced 40% higher than its competitors
Over the summer, a luxury rental apartment building along the coast in Zushi was completed. The 5-story, 27-unit building is targeting tenants from Tokyo and Yokohama looking to rent a long-term beachside holiday home.Read more
REIT acquires Hilton Fukuoka Sea Hawk for 64 billion Yen
On January 24, Japan Hotel Reit announced the purchase of the Hilton Fukuoka Sea Hawk Hotel from ML Estate for 64.35 billion Yen (approx. US$412 million). This was 10% below the appraised value.Read more
REIT sells 50% ownership of Shinagawa office tower
Global One Real Estate Investment Corp has sold its 50% stake in an office tower in Shinagawa to an undisclosed buyer as vacancies rise.Read more
Hotel in Nozawa Onsen takes heat for height
A high-rise hotel planned in the historic Nozawa Onsen village is causing a stir, according to a recent article in the Shinano Mainichi Shimbun newspaper. News of a 36-meter tall, 100-room hotel has sparked a debate on its scenic impact.Read more
REIT acquires two Mimaru hotels
ORIX JREIT is acquiring two serviced-apartment style hotels in Osaka and Kyoto for 7.85 billion Yen (approx. US$50 million). The price per key is 132.5 million Yen (US$840,000) for the Osaka hotel and 68.9 million Yen (US$440,000) for the Kyoto hotel.Read more
Foreign buyers account for 2% of real estate transactions near important military sites
On December 23, the Japanese government announced the results of an investigation into land and real estate purchases in the vicinity of important military defense sites and remote islands, and found 174 land purchases and 197 building purchases by foreigners in 2023.Read more
Hoshino REIT acquires KAI Poroto in Hokkaido
On January 8, Hoshino Resorts REIT acquired the Hoshino Resorts KAI Poroto hotel in Hokkaido for 3.06 billion Yen (approx. US$19.8 million). The 42-room luxury hot spring ryokan opened in March 2020.Read more