Construction costs hit record high in Okinawa while nationwide starts hits 58-year low
Construction costs in Okinawa reached a record high of 298,900 Yen per square meter in 2024, the highest level since record-keeping began in 2014 and a 12.9% increase from 2023.Read more
Japan’s tallest hybrid-timber tenant office building completed last month
On July 23, Dai-Ichi Life announced the completion of a timber and steel hybrid office building in Tokyo’s Kyobashi address. At a height of 56 meters, this is the tallest hybrid-timber tenant office building in Japan.Read more
Construction firm offers rent-to-own scheme for akiya homes
Rent an ‘akiya’ for ten years and it’s yours. That’s what one construction company in Miyagi Prefecture is offering under its recently-introduced rent-to-own business. The company buys up ‘akiya’ or long-term unoccupied homes from owners and offers them as rentals where the tenant can take ownership for free after renting for ten years.Read more
Tokyo apartment rents hit new high in June
Asking rents in Tokyo’s 23 wards reached 4,803 Yen per square meter in June, up 2.4% from the previous month and up 10.8% from last year. The increase is somewhat the result of a larger share in brand-new and near-new apartments, especially luxury apartments in central Tokyo, that have pulled up the average.Read more
JAL and Hulic to build Japan's largest bonded warehouse near Narita Airport
Japan Airlines (JAL) and Hulic are planning a 100 billion Yen (US$673 million) bonded warehouse and logistics facility near Narita International Airport in Chiba Prefecture. This will be the largest bonded warehouse built outside of airport grounds in Japan.Read more
Five-year resale ban proposed to stop condo flipping in central Tokyo
Tokyo’s Chiyoda Ward is requesting that developers impose a 5-year resale ban on new condo sales in an effort to curb speculation from foreign buyers and slow skyrocketing property prices in the capital. The ward submitted a request to the Real Estate Companies Association of Japan, a group made up of major developers, on July 18.Read more
Anantara resort to open in Karuizawa
Royal Minor Hotels has signed a hotel management agreement with List Development for the Anantara Karuizawa Retreat with a planned opening in 2030.Read more