Developer aims to fill gap in group-stay and long-term hotel market

Just 4% of the hotels in Japan’s major cities have rooms that can accommodate three or more guests. Meanwhile, approximately half of the foreign travelers visiting Japan are coming in groups of three or more. Only a small number of hotel developers have picked up on this mismatch.Read more

Market overview of a Shinjuku multi-family building for sale

Let’s do a bit of a dive into a multi-family property listed for sale in central Tokyo recently.Read more

Japan's land values reach highest level since 1991

Annual land values were announced on Tuesday and the return-to-work trend, recovery in inbound tourism, and a dispersal of attention away from Niseko and towards other cheaper ski resort destinations is apparent.Read more

Chiyoda office vacancy rate reaches 39-month low

In February, the office vacancy rate in the Chiyoda business district in Tokyo reached the lowest level in 39 months. According to office brokerage Miki Shoji, the vacancy rate dropped by 0.2 points from the previous month to 2.96%. This is 1.4 points lower than 12 months ago.Read more

Slim pickings for large apartments in Tokyo

Small housing options continue to dominate Tokyo's rental supply, while larger ones remain a rare find. In the 23 wards, 93% of rental apartment listings are under 60 m2 (645 sq.ft) in size and just 0.7% are over 100 m2 (1,076 sq.ft) in size. Read more

Omotesando office building sells at 3% cap rate

A recently-built office building in Omotesando has been acquired by a J-REIT at an assumed cap rate of 3.0%. Japan Real Estate Investment Corporation (JRE) acquired a 77% ownership interest in the 13-story ‘3rd Minami Aoyama’ building from its sponsor Mitsubishi Estate for 21 billion Yen (approx. US$143 million) on March 8.Read more

Osaka's most expensive apartment sold during first round of sales

Osaka’s most expensive apartment building went on sale on February 19, with 2,523 applications made on the 146 apartments offered for sale  in the lottery. That included a 2.5 billion Yen penthouse on the 46th floor that received several applications. An average of 17 applications were made per apartment, with the most popular apartment receiving 95 applications.Read more