Imperial Theatre redevelopment plans announced
Details on the redevelopment of the Imperial Theatre in Tokyo’s Marunouchi district were announced last month. The 59-year old theatre will be replaced with a 155-meter tall, 29-story mixed-use tower. This is a joint venture between Mitsubishi Estate, Toho Co., and the Idemitsu Museum of Arts foundation.Read more
Our 2024 Q4 Japan Real Estate Market Report
Subscribers can download our Q4 report below.Read more
Will new listing disclosure rules be enough to stamp out agent bad practices?
This year, the government is cracking down on the naughty and widespread practice whereby listing brokers will intentionally prevent buyer-side brokers from bringing in buyers. This is called kakoikomi (囲い込み) and is something brokers will experience daily.Read more
Hulic to redevelop former Mizuho Bank building in Omotesando
Real estate giant Hulic is in the process of demolishing the Hulic Aoyama Building above Omotesando Station. The 9-story office building once housed a Mizuho Bank branch on the lower floors.Read more
Office Holidays
A gentle reminder that our office will be closed from 2024/12/23 to 2025/01/05 for the Christmas & New Year holidays. May you all have a rejuvenating break and we look forward to welcoming you back in the new year.Read more
Ski resorts that won’t be operating this winter
Each year, a number of ski resorts across Japan cease operations. These closures are often due to shrinking visitor numbers, rising operational and maintenance costs, staff shortages, and poor snowfall due to warmer winters. With skiing falling out of favor among domestic tourists, the number of closures is expected to accelerate in the coming years.
The following ski resorts announced that they will not be operating for the 2024-2025 season:Read more
Gap remains between asking rents and tenant budgets in Tokyo
With inflation-adjusted real wages remaining stagnant in Japan, how have residential rents in major cites been faring? If you only look at advertised rents, year-on-year increases of 30 ~ 45% can be seen in some city centers, particularly for family-type rental apartments. But are tenants willing to pay these prices?
In October, listing portal site LIFULL HOME’S published its latest rental data, which separates rental data into advertised rents and those inquired about by potential tenants. The gap between the two has been growing significantly in some cities.Read more