Quick real estate news summary for the week
Tokyo house prices increase by 9.2%, office vacancies climb for 14th month, and 68 major developments planned for Tokyo. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
MUFG to rebuild Marunouchi HQ
MUFG Bank is planning to redevelop their headquarter building in Tokyo’s Marunouchi district. Plans are expected to be firmed up by 2022 with a construction schedule to be announced at a later date.
Firms accelerate sales of real estate holdings
As anticipated, some of Japan’s major corporations are fastening the sell-off of their prime real estate holdings as the effects of the pandemic continue. Finding buyers for these key assets is easy, with worldwide monetary easing seeing wealthy funds on the hunt for real estate in safe and stable environments.
Quick real estate news summary for the week
OYO sells short-term letting unit, New World resort for Niseko, and DeNa moves into WeWork. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Quick real estate news summary for the week
UR acquires hotel in Harumi, LG sells office floor, and telework take-up sits at just 20%. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Former Hotel Pacific to be demolished
The mixed-use and oddly-named Shinagawa Goos building on the western side of Shinagawa Station officially closed its doors on March 31, ending 50-years of operations.
Listed companies offload real estate holdings in pandemic
A total of 76 companies listed on the Tokyo Stock Exchange reported the sale of real estate assets in 2020, up from 59 in 2019 and the first time to exceed 70 in four years. Total capital gains from the sales reached 441.6 billion Yen (approx. US$4 billion), the highest in 20 years.