Okinawa hotel sells for 64 million Yen per key
KDX Realty Investment Corporation is acquiring the trust beneficiary rights to the 340-room Okinawa Prince Hotel Ocean View Ginowan for 22 billion Yen (approx. US$150 million). The sale contract was signed on January 15 with the acquisition to be completed on February 1. The seller was a related party to Kenedix.Read more
Okinawa apartment prices up 108% over past 12 years
According to the Ryugin Research Institute, the average price of a 70 sqm (753 sq.ft) second-hand apartment in Okinawa as of October 2020 was 2.1 times higher than it was back in 2008.
Hotel investors seeking bargains in Okinawa
International travel bans and a State of Emergency have savvy investors on the hunt for distressed hotel sales in Okinawa. According to the Ryukyu Shimpo newspaper, desperate hotel and resort owners are finding plenty of demand from corporate investors from the mainland and even overseas.
Okinawa’s military land attracting out-of-state investors
The percentage of land under Japanese and US military bases in Okinawa is increasingly being held by investors from outside the prefecture. As of 2018, 9% of the 44,523 landlords were located outside of Okinawa, a 3 point increase (or around 1.4 times the number of landlords) from 2012.
Okinawa real estate market outlook turns dim
The outlook for Okinawa’s real estate market has shifted negative.
Abandoned hotel in Okinawa to finally be demolished
Demolition has started on an abandoned hotel and local eyesore adjacent to Okinawa’s Nakagusuku Castle that has been sitting idle for almost five decades. In a rare move for privately-owned property, the prefecture has taken charge of demolition due to the need for a careful investigation for any historic artifacts and to avoid harm to protected wildlife. Demolition is expected to be completed by March 2020, after which the land will be converted back to parkland.
Miyakojima’s property boom
Land prices on this tropical island in Okinawa have increased by as much as 50,000% (no, that’s not a typo) over the past four years.