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
REIT acquires Hilton Fukuoka Sea Hawk for 64 billion Yen
On January 24, Japan Hotel Reit announced the purchase of the Hilton Fukuoka Sea Hawk Hotel from ML Estate for 64.35 billion Yen (approx. US$412 million). This was 10% below the appraised value.Read more
Our 2024 Q4 Japan Real Estate Market Report
Subscribers can download our Q4 report below.Read more
Gap remains between asking rents and tenant budgets in Tokyo
With inflation-adjusted real wages remaining stagnant in Japan, how have residential rents in major cites been faring? If you only look at advertised rents, year-on-year increases of 30 ~ 45% can be seen in some city centers, particularly for family-type rental apartments. But are tenants willing to pay these prices?
In October, listing portal site LIFULL HOME’S published its latest rental data, which separates rental data into advertised rents and those inquired about by potential tenants. The gap between the two has been growing significantly in some cities.Read more