Fosun selling Hokkaido ski resort
Fosun International is selling Hoshino Resort Tomamu for approximately 40.8 billion Yen (US$252 million).
Development of the 5,000 hectare mountain resort began in the 1980s as a third-sector, or a government and private business hybrid scheme. Much of the resort was completed by the early 1990s, just as the asset bubble had burst.Read more
Japan’s land values increase at an expanding pace in 2024
On July 1, the National Tax Agency published the annual ‘rosenka’ land tax values, with the nationwide average rising for the 3rd year in a row. This year's 2.3% growth outpaced last year’s increase of 1.5% and 2022’s increase of 0.5%, and is the highest rate of growth in 16 years.Read more
Landlords slashing rents in Harumi Flag
Harumi Flag, the conversion of the Athlete’s Village on Tokyo Bay, is facing an oversupply issue as hundreds of investors and landlords put their units on the market at once. In May 2024, NHK reported that over 500 units had been put up for rent or resale by investors.
Delivery of the units to buyers began in January 2024. By May, almost 330 apartments were advertised for rent.Read more
Hong Kong fund backs out of historic hotel project in Kitakyushu
A Hong Kong fund has pulled out of a historic hotel conversion project in Kitakyushu’s Mojiko district due to fundraising difficulties. The project would have seen an 87-year old office building fully renovated and converted into a 90-room luxury boutique hotel scheduled to open in the fourth quarter of 2020.Read more
Two floors in Roppongi Hills sold to small-lot real estate fund
Small-lot real estate fund creator and operator, Financial Partners Group (FPG), has acquired the 18th and 21st floors in Roppongi Hills Mori Tower. This is the largest acquisition by FPG to date, and potentially the largest small-lot investment to go on offer.Read more
Recent reported commercial transactions in Tokyo
Let’s take a look at some recently reported sales on commercial buildings, including multi-family, office and retail. It’s important to keep in mind that reporting transactions is entirely voluntarily and the vast majority or real estate sold in Japan goes un-reported. That means we have a very limited dataset to work with.Read more
Yokohama and Osaka see rapid rises in rents
While rent prices seem to be tapering off in Tokyo this year, two other Japanese cities have seen staggering rises over the past four months.Read more