Record high number of listed companies dispose of real estate in 2022
Of the 3,803 TSE listed companies, 114 reported the sale of real estate assets in the 2022 fiscal year, according to Tokyo Shoko Research. This is the highest number seen since 2007. In the late 1990s and early 2000s, the typical annual number ranged from 150 to 230 companies.
Bulgari Hotel Tokyo opens
The Bulgari Hotel Tokyo officially opened on April 4, marking the hotelier’s first foray into Japan and the 8th Bulgari-branded hotel globally.Read more
Luxury condo sales push Tokyo's apartment price above 200 million Yen in March
The average price of a brand-new apartment released for sale across greater Tokyo reached a record 143.6 million Yen (US$1.07 million) in March, according to the Real Estate Economic Institute. That is largely due to two luxury condos that went on sale in central Tokyo.Read more
Omotesando retail flipped again
The Almost Blue retail building in Minami Aoyama has changed hands for the 3rd time in as many years.Read more
High apartment prices now spreading to the rental market
Would-be buyers, priced out by the ever-increasing sale price of apartments in central Tokyo, are turning to rentals, causing it to swing to a landlord’s market. A recovery in corporate earnings and pay-rises is also expanding renters’ budgets.Read more
Population in Tokyo’s Chuo ward reaches 70-year high
The population of Chuo Ward in central Tokyo reached 174,074 residents as of January 1, 2023. This has exceeded a previous record of 172,183 set in January 1953.Read more
Appliance manufacturer acquires Forest Hills in Omotesando
Rinnai Corporation has acquired Forest Hills East and West in Omotesando for an undisclosed price. The two buildings have a total floor size of 5,551 sqm (59,700 sq.ft) and sit on 1,843 sqm of land in the Minami Aoyama 4 Chome address.Read more