Japan’s hotel industry hits record high of 5.5 trillion Yen in 2024
Japan’s hotel and ryokan industry reached a record high revenue of 5.5 trillion Yen (US$37 billion) in 2024, according to the Teikoku Databank, surpassing the previous peak of 5.2 trillion Yen recorded in 2018.Read more
Commercial land values rise over 10% in Tokyo, Osaka and Fukuoka
Japan’s land values continued to rise in key locations this year, with commercial land values in Tokyo’s 23 wards (+11.8%), Osaka City (+11.6%), and Fukuoka City (+11.3%) all seeing year-on-year growth in the double digits.
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced the results of the nationwide assessed land values (地価公示) on March 18. Nationwide, the average land value across all uses increased for the 4th year in a row with 2.7% growth, showing an increasing pace from 2024 (+2.3%), 2023 (+1.6%), and 2022 (+0.6%).Read more
250m tall tower to transform Yaesu's office market
Developer Tokyo Tatemono announced the official name of its new skyscraper under construction on the Yaesu side of Tokyo Station. TOFROM Yaesu is a 250-meter tall, 51-story office tower due for completion in early 2026. Redevelopment discussions began in 2000.Read more
Japan's land prices rise for four consecutive quarters
For the past four quarters, land prices rose across all surveyed locations in major cities, according to the latest quarterly LOOK report published by the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) on February 21.Read more
Group wins bid for Minato Mirai sites in Yokohama
Yokohama City has selected a group to develop two adjoining land parcels in the Minato Mirai waterfront district. The group signed a land purchase agreement with Yokohama City on February 20 for blocks 60 and 61 totaling 23,129 m2.Read more
Tokyo apartment rents increase 1.6% y-o-y
The average advertised rent of condo-type apartments in Tokyo’s 23 wards reached 4,332 Yen/m2 in January, according to Tokyo Kantei. This is a 0.9% increase from the previous month and a 1.6% increase from January 2024.Read more
Zushi’s newest rental priced 40% higher than its competitors
Over the summer, a luxury rental apartment building along the coast in Zushi was completed. The 5-story, 27-unit building is targeting tenants from Tokyo and Yokohama looking to rent a long-term beachside holiday home.Read more