Here’s where apartment rents are increasing the most across Japan
Rents for more spacious ‘family-type’ apartments in Japan’s major cities reached record highs in October, according to a report released by multiple-listing provider and data aggregator AtHome. The larger-sized rental housing is becoming an interesting segment of the market to observe as would-be homebuyers are starting to shift to rental housing as they become priced out of the condo market.Read more
Osaka Maritime Museum to sell for 0.3% of original cost
Built at a cost of 17.6 billion Yen, this long-closed museum was recently offered for 56 million Yen, or just 0.3% of its original cost.Read more
Japan’s skyrocketing hotel prices
A quickly recovering inbound tourism industry coupled with a labor shortage has caused hotel rates in some areas in Japan to far exceed pre-pandemic pricing.Read more
Osaka’s most expensive apartment is going on sale for 2.5 billion Yen
The most expensive apartment in history in the Osaka and Kansai region will go on sale next February. The two-bedroom penthouse will be priced at 2.5 billion Yen (US$16.7 million).Read more
Foreign tourists are back and hotels are seeing record-high revenues
Despite the scorching summer temperatures, foreign tourists returned to Japan in droves in August and hotels are the first to benefit. The Nikkei Shimbun newspaper reported in early September that hotels in central Tokyo are seeing ADRs that are 30% higher than pre-pandemic levels, and the rate of increase has exceeded that of New York. The Palace Hotel Tokyo’s ADR has exceeded 100,000 Yen for the first time. Some city hotels in Osaka have seen their ADR increase by as much as 30% since the beginning of the year and over 100% from early 2022.
Developer acquires Gaetano Pesce-designed building in Osaka
A landmark office building in Osaka has been sold to Kintetsu Real Estate in June. Organic Building was designed by Gaetano Pesce and built in 1993. The facade is comprised of various red planter panels, with the 80 varieties of plants kept alive with a computer-controlled watering system. Read more
Historic Osaka office building demolished and sold to developer
A landmark heritage building alongside Dojima River in Osaka is under demolition by a local developer. Demolition started in April 2023 with completion expected by late October.Read more