Japan now has 9 million empty homes, but not all are ‘akiya’

Japan has 9 million empty homes, according to the latest House and Land Statistical Survey published by the Ministry of Internal Affairs and Communications on April 30. But… this number includes temporarily vacant properties and holiday homes, making the true ‘akiya’ or vacant house number closer to 3.85 million, or 5.9% of total housing stock.Read more

Luxury apartments and hotel planned for Yokohama high-rise

A high-rise tower containing luxury rental apartments and an internationally-branded hotel is set to open in Yokohama in 2027. On April 10, Sumitomo Realty & Development announced details of what’s planned to go in its 40-story mixed-use project located in the Kitanaka district near Bashamichi Station.Read more

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