Partner sought for Toranomon redevelopment project
The semi-governmental Urban Renaissance Agency is seeking a partner for a large-scale redevelopment project in Toranomon.Read more
21% annual returns on apartments in Roppongi
Apartments near Roppongi Itchome Station in central Tokyo have provided an average annualized return of 21.26% over the past 10 years, according to a report by Tokyo Kantei.
Shinagawa data center to sell for 70 billion Yen
Sekisui House Reit has sold the trust beneficiary interest in the Gotenyama SH Building for 70 billion Yen (US$517 million), a 36% premium over what it was acquired for in 2014. The sale price exceeded its appraisal value by 13%.Read more
Tokyo's office vacancy rate improves 0.3 points in April
Tokyo’s office vacancy rate in April was 6.11%, a 0.3 point improvement from the previous month and a 0.27 point improvement from last year. The office leasing market is showing signs of recovery, and some companies are seeking to expand their office space.Read more
CLT hybrid condo to go on sale in Shibuya
This June, Nomura Real Estate Development will start sales of a cross-laminated timber (CLT) hybrid apartment building near Sangubashi Station in Shibuya.Read more
Azabudai apartment building sells at 2% net yield
A 47-unit apartment building in Azabudai has been sold for 3.288 billion Yen (approx. US$24 million), 49% above its recent appraised value. This results in a net yield somewhere in the 2.2% range. Advance Residence Investment Corporation, a REIT operated by Itochu Corporation, will transfer the trust beneficiary interests to the undisclosed domestic buyer in July and August of this year.Read more
Bulgari Hotel Tokyo opens
The Bulgari Hotel Tokyo officially opened on April 4, marking the hotelier’s first foray into Japan and the 8th Bulgari-branded hotel globally.Read more
Luxury condo sales push Tokyo's apartment price above 200 million Yen in March
The average price of a brand-new apartment released for sale across greater Tokyo reached a record 143.6 million Yen (US$1.07 million) in March, according to the Real Estate Economic Institute. That is largely due to two luxury condos that went on sale in central Tokyo.Read more
Omotesando retail flipped again
The Almost Blue retail building in Minami Aoyama has changed hands for the 3rd time in as many years.Read more
High apartment prices now spreading to the rental market
Would-be buyers, priced out by the ever-increasing sale price of apartments in central Tokyo, are turning to rentals, causing it to swing to a landlord’s market. A recovery in corporate earnings and pay-rises is also expanding renters’ budgets.Read more