Tokyu’s new short-term accommodations target growing market for flexible stays
With demand for long-term serviced apartments on the rise, Tokyu Corporation launched its own brand of monthly furnished rentals on March 27. The apartment-hotels cater to both longer-term tenants looking for monthly leases and tourists looking for nightly stays.Read more
Construction starts on life sciences building in Toyocho
Mitsui Fudosan has started construction on a life sciences building near Toyocho Station in Tokyo’s Koto ward, with completion expected in the summer of 2026.Read more
Marunouchi landlord expands flex space
Marunouchi’s largest landlord, Mitsubishi Estate, is adding to its flexible office space in the district as it seeks to boost rents in a tightly supplied market.Read more
Akasaka Park Building to be sold back to sponsor
Japan Real Estate Investment Corporation is selling Akasaka Park Building for 80.7 billion Yen (approx. US$538 million) to its sponsor, Mitsubishi Estate, with the sale to take place over six stages between April 2025 and October 2027. The building had an appraised cap rate of 3.1%.Read more
Gap between advertised rents and tenant budgets reaches record high
The gap between the average advertised rent of housing in Tokyo’s 23 wards and tenant budget based on inquiries has reached its widest level in February, according to data published by LIFULL Home’s Press. The difference was the largest for family-oriented rentals.Read more
Kita Aoyama buildings to sell for 18 billion Yen
ORIX JREIT is disposing of two buildings in Kita Aoyama, Tokyo, in preparation for potential redevelopment. The REIT is selling Aoyama Suncrest Building and its adjoining Kita Aoyama Building back to its sponsor for a combined 18 billion Yen (approx. US$120 million).Read more
Commercial land values rise over 10% in Tokyo, Osaka and Fukuoka
Japan’s land values continued to rise in key locations this year, with commercial land values in Tokyo’s 23 wards (+11.8%), Osaka City (+11.6%), and Fukuoka City (+11.3%) all seeing year-on-year growth in the double digits.
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced the results of the nationwide assessed land values (地価公示) on March 18. Nationwide, the average land value across all uses increased for the 4th year in a row with 2.7% growth, showing an increasing pace from 2024 (+2.3%), 2023 (+1.6%), and 2022 (+0.6%).Read more