Tokyo rents continue 3-month record-high streak
In March, average apartment rents in Tokyo, Kanagawa, Saitama and Chiba all saw a year-on-year increase due to both a continued increase in the share of newer apartments commanding higher rents as well as being the peak moving season. Read more
Apartment rents in greater Tokyo increase for 3rd month
The average monthly rent of a condominium-type apartment across greater Tokyo (Tokyo, Kanagawa, Saitama, and Chiba prefectures) was 3,391 Yen/sqm in January, up 1.6% from the previous month and the 3rd month in a row to see a month-on-month increase.
Record high apartment prices in Osaka
Rising residential prices are being felt nationwide as construction costs remain high. This year, the most expensive apartment building in the Kansai region will go on sale, creating a new price record.
Apartment asking prices climb 13.2% in 2022
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment across the greater Tokyo region in 2022 climbed 13.2% to 47,160,000 Yen. This was the second year in a row to record double-digit growth.
Righa Royal Hotel to be sold to Canadian fund
Osaka’s Rihga Royal Hotel will be acquired by BentallGreenOak (BGO), a Canadian real estate investment firm. Although the price was not disclosed, it is estimated to be somewhere around 50 billion Yen (approx. US$385 million). Operations by Royal Hotel are expected to continue post-sale.
Office buildings see improved earnings rate in 2022
On November 29, the Japan Real Estate Institute released its six-monthly report on the total earnings rate (rental income and capital gains) of office buildings in central Tokyo.
Tokyo’s rents increase for first time in 6 months
The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,820 Yen/sqm in October, up 0.6% from the previous month. This is the first month-on-month increase in 6 months. Rents are down 0.3% from last year.