Office vacancies increase for 13th month, Tokyo Midtown Yaesu to open in 2022, and 98 islands identified for foreigner-transaction reporting requirements. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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The onset of the pandemic and international travel bans in March 2020 saw occupancy rates in Japan’s hotels plummet. Resort hotels saw occupancy levels drop to just 3.3% during the State of Emergency in May 2020, while traditional ryokans weren’t far behind with 5.9% occupancy.
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The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2021:
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Fire insurance policy terms reduced, Blackstone to acquire 8 hotels, and apartment asking prices in Tokyo increase for 8th month in a row. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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The nationwide ‘koji-chika’ (or chika-koji) land valuations for January 1, 2021 have just been announced. Read on if you want to see how the coronavirus pandemic has affected Japan’s real estate market.
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On March 14, detailed plans for the redevelopment of the Kokusai Shin-Akasaka Buildings were released. The Akasaka 2, 6 Chome District project will see two towers of 230 meters and 110 meters tall.
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OYO Hotels & Homes, the Indian hospitality chain, is backing out of their real estate rental business in Japan.
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According to REINS, a total of 3,587 second-hand apartments were reported to have sold across greater Tokyo in February, up 3.1% from the previous month but down 4.3% from last year. The Tokyo metropolitan area saw an 8.8% year-on-year drop in transactions, while Saitama Prefecture saw transactions up 5.2%.
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The following is a selection of apartments that were reported to have sold in central Tokyo during the month of February 2021:
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Luxury brand opens retail alongside Omotesando Avenue, Kamakura museum bid withdrawn, and 40% of brokerages see drop in rental transactions in January and February. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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