Quick real estate news summary for the week
New apartment supply to increase 31% next year, US$7 billion bet that Japan’s telework trend is short-lived, Nuveen and Kenedix acquire more apartment buildings in Tokyo, and 6% of Osaka's restaurants shut amidst pandemic. 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
Tokyo’s office vacancy rate hits 4%, cash bonus for anyone who moves near the Fukushima nuclear plant, and apartment rents drop in Tokyo and Yokohama. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
1930s building in Shimbashi to be converted into share offices
An 88-year old heritage-listed building in Shimbashi is being converted by construction giant Takenaka Corporation into a share office for start-ups.
Tokyo tops worldwide commercial real estate sales
According to JLL, Tokyo attracted US$19.3 billion (approx. 2 trillion Yen) in commercial real estate investment between January and September 2020, putting it at the top of the international city rankings. In 2019 it was ranked 4th, losing out to Seoul, Paris and New York.
Telework trend delays Nagoya's 400-meter long office project
Nagoya Railroad, aka Meitetsu, has delayed the construction of a 400-meter long office tower for the Nagoya Station area citing high construction costs and a change in tenant demand as a result of the coronavirus pandemic.
Quick real estate news summary for the week
Tokyo’s office vacancy rate worsens for 8th month, owner-build house starts hit 55-year low, and Aichi’s population shrinks for first time since 1956. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Construction starts on Toranomon's latest office tower
Construction has started on a 180-meter tall office tower in Tokyo’s Toranomon district. The Toranomon 2 Chome District Redevelopment project is located on the same block as the 90-meter tall Toranomon Hospital and the recently-sold 170-meter tall JT Building.