Office buildings see improved earnings rate in 2022
On November 29, the Japan Real Estate Institute released its six-monthly report on the total earnings rate (rental income and capital gains) of office buildings in central Tokyo.
Japan's property price index illustrates recent growth in house and land prices
On November 30, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the nationwide property price index for the month of August 2022. What is interesting to note is the recent growth in residential land and detached house prices. Both segments had remained somewhat flat for around 10 years, but have seen a surge in price appreciation since mid-2020.
Panasonic buys back Shiodome office tower
Panasonic Holdings is buying back its office tower in Shiodome. In 2013, the beneficiary rights to the rental income from the building were sold to two funds for 50.7 billion Yen, after the company reported a record loss of 772.1 billion Yen in 2012.
Kajima eyes potential in Japan's luxury real estate sector
Last month, construction giant Kajima Corporation announced plans to enter the luxury sector of the real estate market, and has already kicked things off with the acquisition of two properties from British developer Grosvenor. Within the year, the company is also expected to complete the purchase of luxury housing to lease to wealthy domestic and foreign tenants.
OMA-designed retail project coming to Harajuku
Construction on a new retail project in Harajuku kicked off last month. The 6-story building will have a total floor area of 7,800 sqm (84,000 sq.ft) and occupy a 1,960 sqm site with front and rear street frontage.
Mita office building to sell for 13 billion Yen
Machinery component manufacturer, MinebeaMitsumi, announced the planned sale of its Tokyo Honbu Building in Minato ward’s Mita address.
26-story office and apartment tower for Iidabashi
On October 12, the Tokyo Metropolitan Government approved the formation of the committee for the Iidabashi Station East District Redevelopment. This will see a 130-meter tall, 26-story office and apartment tower built next door to Iidabashi Station.