Development Bank sets up minpaku fund
Some countries and international cities may be banning Airbnb-style accommodation in an attempt to alleviate a housing crisis, but not Japan. With inbound tourism expanding, the government-owned Development Bank of Japan has established a real estate fund to invest in ‘minpaku’ or Airbnb-style short-term accommodation in Japan. This is the first domestic bank to establish this initiative.Read more
Akasaka Garden City sells for 54.6 billion Yen
Sekisui House Reit is selling its share in Akasaka Garden City to an unnamed domestic special purpose company for 54.6 billion Yen (approx. US$365 million).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
Standard Land Prices increase 1.4% thanks to semiconductors and tourists
Standard Land Prices were announced on September 17, and a small town of just 36,000 residents in Kyushu topped the nationwide ranking for commercial land price growth with a 33.3% increase. There’s a simple reason - semiconductors.Read more
Recent price trends in Tokyo's apartment rental market
Several reports on Tokyo’s apartment rental market were released over the past few weeks, highlighting some recent trends based on apartment type and size.Read more
New office building for Sapporo's neon nightlife neighborhood
This November, Tokyu Land Corporation will open a 13-story tenant office building (pictured above) in Sapporo’s Susukino neighborhood, the biggest entertainment district north of Tokyo. Why build an office here?
Susukino is a major shopping and entertainment destination, and not commonly thought of as an office district. Why would a developer build an office here? A representative from the developer, Tokyu Land Corporation, said that as the lines between work life and personal life blur, an office in a more vibrant location with plenty of places to eat, shop and be entertained might make for a more exciting work environment.Read more
Occupancy, Yields, and Rents for Tokyo’s multifamily market
In a data-driven analysis into Tokyo's multifamily real estate market, we examined a sample of 50 apartment buildings comprising nearly 1,000 units listed for sale across the city's 23 wards as of August 2024. This gives us a snapshot of occupancy rates, yields, and rents. Based on this sample, the median gross* yield is 4.09%.Read more