Back-to-work trend sees increase in fees for rental meeting rooms
Those rental meeting rooms that you see dotted around central Tokyo are starting to increase their fees as workers return to the office. Prices have increased by as much as 10 ~ 15% over the past two years.Read more
Tokyo office rents increase for first time in 3.5 years
In December, office rents in central Tokyo saw the first month-on-month increase in 3.5 years. According to brokerage Miki Shoji, the average monthly rent per tsubo was 19,748 Yen (5,975 Yen/m2), up 22 Yen from the previous month and the first increase since July 2020.Read more
Our Japan Property Market Report for 2023
In 2023, Japan's property market continued to see high demand thanks to some of the lowest interest rates in the world, a cheap Yen, and an improving corporate environment. We ended the year with domestic and foreign clients looking to spend an accumulated total of up to 120 billion Yen on real estate acquisitions in Japan.Read more
Tokyo skyscraper to have 1000kW solar panel facade
A 230-meter tall skyscraper in central Tokyo will be the first high-rise in the world to incorporate a large-scale perovskite solar cell (PSC).Read more
Office vacancy rate in Tokyo hits 33-month low
The office vacancy rate for existing buildings in central Tokyo’s five business districts reached a 33-month low in October. According to office brokerage Miki Shoji, the vacancy rate was 5.36%, down 0.71 points from last year and the 16th month in a row to record a year-on-year decrease. During the month, around 4,000 tsubo (13,220 sqm or 142,000 sq.ft) of space was absorbed thanks to some large-scale leases.Read more
Omotesando low-rise rumored to sell for 25 billion Yen
Last week the Nikkei Real Estate Market Report announced that the rumored sale price of the Forest Hills retail and office building in Omotesando was 25 billion Yen (approx. US$165 million).Read more
A quick look at Harumi’s office market
Let’s take a look at Harumi’s office market as there are some noticeable vacancies this year.Read more