Station access is make-or-break for one segment of Tokyo’s office market

Major corporate tenants in Tokyo are placing increasing priority on location as they seek convenience. Offices with better transport access are seeing vacancy rates fall, while those in slightly less convenient locations are continuing to see vacancy rates climb. The difference can be stark.

What’s causing this shift?Read more

Our 2024 Q1 Japan Real Estate Market Report

With growing interest in Japan's commercial real estate market, we have decided to publish real estate market reports on a quarterly basis rather than our previous annual schedule. You can download our first report below. It contains an overview of trends in Japan's multi-family, office, hotel, and retail real estate sector for the first quarter of 2024. Read more

JREIT trades Tokyo office for multi-family

ORIX JREIT and Osaka Gas Urban Development are trading several properties between each other this month, including some multi-family at appraised cap rates in the low-to-mid 3% range.Read more

Tsukiji Fish Market redevelopment proposal announced last week

The proposed redevelopment plan for the old Tsukiji Fish Market site in Tokyo was announced last week by the Tokyo Metropolitan Government. Mitsui Fudosan has been selected to lead a group of 11 project participants.Read more

Semiconductor boom pushes rents and land values up by 30% in one Hokkaido City

Semiconductor factories are driving several localized property booms in otherwise quiet parts of Japan. One of those is in Chitose City, located about a 45-minute drive from Sapporo, where construction of the Rapidus factory is now underway.Read more

Tokyo's median apartment price is almost 30% lower than its average

You might recall some recent headlines about surging property prices in Tokyo. And while that maybe true, the numbers reported by most of the research companies tend to be averages rather than median pricing. Some of those headlines are also referring solely to the cost of brand-new condos, not properties on the resale market. Again, another number that is not representative of the market as a whole.Read more

Shibuya office building sells for 25 billion Yen

JR East Building Co., the real estate division of East Japan Railway, acquired the Shibuya Prime Plaza office building in February. The sale price was not disclosed, but assumed by the Nikkei Real Estate Market Report to exceed 25 billion Yen (approx. US$165 million).Read more