Tokyo’s residential rental market remains stand-out performer as surrounding areas continue to decline
The average advertised rent for a condo-type apartment in Tokyo’s 23 wards reached a new record high in October of 4,866 Yen per square meter, up 14.1% year-on-year, according to Tokyo Kantei. Asking rents in newer builds less than five years old have come down from their peak seen in July, while rents in older buildings have shown more consistent growth since spring.
Rents in Yokohama City have dropped month-on-month for the past six months, and are currently 14.1% below their peak seen in May 2024. The average asking rent in October was 2,800 Yen per square meter, down 1.3% from the previous month and down 7.0% year-on-year. Rents in Saitama and Chiba cities are also down 12.7% and 16.1% respectively from their peaks seen in 2024.Read more
Osaka Expo site prepares for new entertainment complex
Preparations are now underway to determine the next use for the site of the former Expo 2025 in Osaka. Private developers are looking at redeveloping the 50-hectare grounds into an entertainment facility by the early 2030s. Together with the integrated resort and casino project underway next-door, the two projects are expected to revitalize the manmade island of Yumeshima.Read more
City buys back land from Malaysian developer
Izumisano City in Osaka has bought back a two hectare land parcel it had previously sold to a Malaysian developer. The site was slated to be developed into a 50 billion Yen hotel and residential project, but stalled in the pandemic.Read more
REIT sells soon-to-be vacant retail asset in Osaka at 72% above appraisal
A REIT is disposing of a soon-to-be vacant large shopping mall in Osaka's Shinsaibashi district for 43.1 billion Yen (approx. 287 million USD), a significant premium over its appraised value of 25 billion Yen.Read more
Osaka City looks to end ‘special minpaku’ licensing applications in 2026
Osaka City is home to the most relaxed minpaku (short-term letting) rules in Japan, but with growing complaints, now appears to be making moves to stop accepting new applications from mid-2026. The city has almost 6,700 registered Special Zone Minpaku accommodations as of July 2025, a 22% increase from the end of 2024.Read more
Co-living property in Osaka 80% pre-leased before opening
Global Agents, the operator of ‘social apartments’ or co-living housing, opened its first property in Osaka City on August 9 in collaboration with the West Japan Railway Company and West Japan Food Service Net Company. The building was 80% leased up prior to opening.Read more
Mizuho launches fund targeting older buildings
Mizuho Financial Group announced the establishment of a new value-add fund to acquire aging buildings over 20 years old and improve their environmental performance. The group is planning to invest around 200 billion Yen (US$1.36 billion) over the next five years, starting with the 50 billion Yen acquisition of a 35-year old office tower in central Osaka.Read more