An overview of Ginza's real estate market for May 2024

Ginza is perhaps the most famous retail destination in Japan. It’s also the most expensive in terms of rent and land prices and amongst the lowest in terms of cap rates. While land values took a dip during the pandemic when the country was closed to inbound tourism for 2.5 years, they have recently returned to positive territory. Below, we take a look at current market rents, land prices, and some commercial properties currently for sale in the Ginza address.Read more

Shinjuku Golden-Gai foreclosure attracts 100 bidders

A public foreclosure auction of a tiny piece of Shinjuku’s famous Golden-Gai bar district attracted 100 bidders last month and ended up selling for over 100 times its reserve.Read more

Gap between studio and larger apartment rental market widens

There is a growing divide in the rental market between the small studio-type and larger family-type apartments in Japan’s major centers. Based on the latest data for the month of March, the gap is widening with larger rental apartments seeing double-digit y-o-y growth in some cities. But is this rental growth reflecting an actual increase in tenant budgets or are landlords just hiking up advertised rents? Let's take a look.Read more

Station access is make-or-break for one segment of Tokyo’s office market

Major corporate tenants in Tokyo are placing increasing priority on location as they seek convenience. Offices with better transport access are seeing vacancy rates fall, while those in slightly less convenient locations are continuing to see vacancy rates climb. The difference can be stark.

What’s causing this shift?Read more

JREIT trades Tokyo office for multi-family

ORIX JREIT and Osaka Gas Urban Development are trading several properties between each other this month, including some multi-family at appraised cap rates in the low-to-mid 3% range.Read more

Tsukiji Fish Market redevelopment proposal announced last week

The proposed redevelopment plan for the old Tsukiji Fish Market site in Tokyo was announced last week by the Tokyo Metropolitan Government. Mitsui Fudosan has been selected to lead a group of 11 project participants.Read more

Tokyo's median apartment price is almost 30% lower than its average

You might recall some recent headlines about surging property prices in Tokyo. And while that maybe true, the numbers reported by most of the research companies tend to be averages rather than median pricing. Some of those headlines are also referring solely to the cost of brand-new condos, not properties on the resale market. Again, another number that is not representative of the market as a whole.Read more