Large, luxury apartments planned for Daikanyama
A low-rise luxury apartment building is planned for a site in Daikanyama that was once the home of former Prime Minister Takeo Miki. Construction is scheduled to start this December with completion expected by the end of 2026.Read more
GLP sells Nara logistics center
The GLP J-REIT has sold a 55-year old logistics center in Nara to an Osaka-based real estate company for 2.506 billion Yen (approx. US$17 million). This is 36% above its book value.Read more
Rising construction costs delay redevelopment of Nakano Sunplaza
Redevelopment of the Nakano Sunplaza is likely to be delayed as rising construction have resulted in a blow out in estimated project costs.Read more
Nogizaka talent agency HQ sold to real estate company
Real estate giant HULIC has emerged as the buyer of the disgraced former Johnny & Associates (now Smile-Up) headquarters in Akasaka. The sale took place in June 2024 at an undisclosed price.Read more
Marriott-branded hotel in Tottori delayed
At a city council meeting on September 17, Tottori City Mayor Yoshihiko Fukazawa announced a delay in the proposed development of a Marriott-branded hotel on the Tottori sand dunes. The city is now scheduled to sign an agreement with the developer on January 1, 2025, after the prolonged pandemic led to the postponement of the planned 2021 and 2023 dates.Read more
Sapporo’s rents on the rise
Sapporo City in Hokkaido is experiencing a rise in residential rental prices as the rapid increase in construction costs spreads to consumers. A larger supply of newer, high-end apartments has also contributed to the rise. Real estate portal site, AtHome, reported that average advertised rent for family-type apartments has reached the highest level since reporting began in 2015.Read more
Kawasaki shopping center sells for 4.8 billion Yen
The Japan Metropolitan Fund Investment Corporation (JMF) is acquiring a shopping center in Kawasaki City for 4.8 billion Yen (approx. US$34 million), 22% below its appraised value.Read more