Landlords slashing rents in Harumi Flag
Harumi Flag, the conversion of the Athlete’s Village on Tokyo Bay, is facing an oversupply issue as hundreds of investors and landlords put their units on the market at once. In May 2024, NHK reported that over 500 units had been put up for rent or resale by investors.
Delivery of the units to buyers began in January 2024. By May, almost 330 apartments were advertised for rent.Read more
Recent reported commercial transactions in Tokyo
Let’s take a look at some recently reported sales on commercial buildings, including multi-family, office and retail. It’s important to keep in mind that reporting transactions is entirely voluntarily and the vast majority or real estate sold in Japan goes un-reported. That means we have a very limited dataset to work with.Read more
Yokohama and Osaka see rapid rises in rents
While rent prices seem to be tapering off in Tokyo this year, two other Japanese cities have seen staggering rises over the past four months.Read more
An overview of Ginza's real estate market for May 2024
Ginza is perhaps the most famous retail destination in Japan. It’s also the most expensive in terms of rent and land prices and amongst the lowest in terms of cap rates. While land values took a dip during the pandemic when the country was closed to inbound tourism for 2.5 years, they have recently returned to positive territory. Below, we take a look at current market rents, land prices, and some commercial properties currently for sale in the Ginza address.Read more
Gap between studio and larger apartment rental market widens
There is a growing divide in the rental market between the small studio-type and larger family-type apartments in Japan’s major centers. Based on the latest data for the month of March, the gap is widening with larger rental apartments seeing double-digit y-o-y growth in some cities. But is this rental growth reflecting an actual increase in tenant budgets or are landlords just hiking up advertised rents? Let's take a look.Read more
Japan’s shrinking hotel sizes
Hotel construction may have resumed to a normal pace post-pandemic, but the average floor size per building is shrinking rapidly. Nationwide, the average GFA of a hotel built in 2023 was 72% smaller than the recent high seen in 2018.Read more
Japan now has 9 million empty homes, but not all are ‘akiya’
Japan has 9 million empty homes, according to the latest House and Land Statistical Survey published by the Ministry of Internal Affairs and Communications on April 30. But… this number includes temporarily vacant properties and holiday homes, making the true ‘akiya’ or vacant house number closer to 3.85 million, or 5.9% of total housing stock.Read more