Japan’s luxury hotel market emerges from pandemic pause

The chances of picking up prime hotel or resort asset deals in Japan may be over as the industry swings back into full gear. 

Major developer, Mitsui Fudosan, has reported that its revenue from hotel operations has recovered to around 90% of pre-pandemic levels. Demand from tourists from North America and Europe has been particularly strong, making up for the decline in business trips.

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Our Japan Property Market Report for 2022

2022 was a year of turmoil for markets, with interest rate rises, high inflation, and ongoing supply chain disruptions. Japan did not suffer to the same extent, with interest rates and inflation remaining low. The stable domestic conditions favored the real estate market with prices continuing to rise throughout the year.

Please feel free to view or download the PDF of our annual Japan Property Market Report, linked below.

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Expected rental yields on Tokyo real estate assets hit 23-year low

Investors are expecting lower rental yields from office and residential assets in Tokyo. According to the Japan Real Estate Institute’s investors survey published on November 2022, the expected rental yield on Class A office space in Tokyo’s Marunouchi and Otemachi district was 3.2% as of October 2022, down from a 3.3% expected yield in April.

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