Standard Land Prices increase 1.4% thanks to semiconductors and tourists
Standard Land Prices were announced on September 17, and a small town of just 36,000 residents in Kyushu topped the nationwide ranking for commercial land price growth with a 33.3% increase. There’s a simple reason - semiconductors.Read more
Central Tokyo's office vacancy rate drops to lowest level since Dec 2020
Central Tokyo’s office vacancy rate dropped to 4.76% in August, the lowest level seen since December 2020, according to brokerage Miki Shoji. For existing buildings, excluding new construction, the vacancy rate was 4.53%, down from 5.64% seen this time last year.Read more
Another semiconductor plant for Kumamoto?
Kikuyo Town near Kumamoto, the center of Kyushu’s semiconductor manufacturing boom, is preparing a new industrial park across the street from TSMC’s two chip plants with the goal of getting TSMC to open a third facility.Read more
Denso sells 10ha former factory site in Nagoya
A developer is acquiring the 10 hectare site of a former factory in Nagoya, with the acquisition price thought to be over 20 billion Yen (approx. US$140 million).Read more
Recent price trends in Tokyo's apartment rental market
Several reports on Tokyo’s apartment rental market were released over the past few weeks, highlighting some recent trends based on apartment type and size.Read more
New office building for Sapporo's neon nightlife neighborhood
This November, Tokyu Land Corporation will open a 13-story tenant office building (pictured above) in Sapporo’s Susukino neighborhood, the biggest entertainment district north of Tokyo. Why build an office here?
Susukino is a major shopping and entertainment destination, and not commonly thought of as an office district. Why would a developer build an office here? A representative from the developer, Tokyu Land Corporation, said that as the lines between work life and personal life blur, an office in a more vibrant location with plenty of places to eat, shop and be entertained might make for a more exciting work environment.Read more
Fukuoka REIT acquires two assets in Kyushu
Fukuoka REIT, whose sponsors include the Kyushu Electric Power Company and Fukuoka Jisho, has acquired two assets in Kyushu in August, as it further diversifies its portfolio. The two acquisitions are for a logistics center in Kumamoto and a rental apartment building in Fukuoka City. Delivery of both properties is scheduled to take place in March 2025.Read more