Commercial land values rise over 10% in Tokyo, Osaka and Fukuoka
Japan’s land values continued to rise in key locations this year, with commercial land values in Tokyo’s 23 wards (+11.8%), Osaka City (+11.6%), and Fukuoka City (+11.3%) all seeing year-on-year growth in the double digits.
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced the results of the nationwide assessed land values (地価公示) on March 18. Nationwide, the average land value across all uses increased for the 4th year in a row with 2.7% growth, showing an increasing pace from 2024 (+2.3%), 2023 (+1.6%), and 2022 (+0.6%).Read more
Nagoya hotel sells for 7.7 billion Yen
One REIT acquired the trust beneficiary rights to the Comfort Inn Nagoya Sakae Ekimae hotel in March for 7.74 billion Yen. This is the REIT’s first acquisition of a hotel, following its 2024 announcement that it would be considering assets other than offices.Read more
Shinagawa office sells for 5.5 billion Yen
A J-REIT has sold a 33-year old office building in Shinagawa for 5.57 billion Yen (approx. US$37 million), 215% above its approximate book value and 15% above its appraisal.Read more
250m tall tower to transform Yaesu's office market
Developer Tokyo Tatemono announced the official name of its new skyscraper under construction on the Yaesu side of Tokyo Station. TOFROM Yaesu is a 250-meter tall, 51-story office tower due for completion in early 2026. Redevelopment discussions began in 2000.Read more
Foreign tourists now majority of hotel guests in Tokyo and Kyoto
Foreign tourists spent 41.5% more nights in hotels in 2024 compared to 2019, according to the Japan Tourism Agency. Total nights by domestic and foreign travelers reached 650 million for the year, up 5.3% from 2023 and up 9.1% from 2019. Of that, foreign tourists accounted for 25.1%, up from a 19.1% share in 2023 and a 19.4% share in 2019.Read more
Hino sells off additional factory land for over 34 billion Yen
On February 28, Hino Motors announced the sale of a portion of its land holdings to a real estate developer. The sale price was not disclosed but the company is reporting 34 billion Yen (US$230 million) in proceeds from the deal.Read more
Hotel owner looks to sell 205-room Okinawa property
The owner and operator of a 205-room hotel in Okinawa is considering selling it as they shift their focus to larger development projects on the island.Read more