Art museum to open on 43-acre estate in Kamakura
A prominent jewelry company has been selected to open a jewelry-themed art museum on a 43-acre estate in Kamakura. The city-owned land was originally owned by the Nomura Research Institute (NRI) and was donated to Kamakura City in 2002.
Quick real estate news summary for the week
Tokyo’s 3D flood maps rolled out, apartment asking prices rise for 5th month, and Toyota to start building futuristic city in February. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
1 in 4 Tokyo office tenants looking to move
According to a survey by MORI Building of companies with headquarters in Tokyo’s 23 wards, 24% of them have plans to lease new office space. This is a 3 point decrease from the previous survey conducted last year.
Yubari Resort to file for bankruptcy citing pandemic-induced tourism downturn
Only a year after purchasing the resort and related hotels, the owner-operator of the Yubari Mount Racey Ski Resort is filing for bankruptcy. The closure of the city’s only ski resort and the only three hotels nearby have devastated the local tourism industry.
Avex sells HQ building for 70 billion Yen
According to the Nikkei Shimbun, music and entertainment production company Avex is selling their headquarter building in Omotesando for an estimated 70 billion Yen (approx. US$675 million).
Quick real estate news summary for the week
New apartment supply to increase 31% next year, US$7 billion bet that Japan’s telework trend is short-lived, Nuveen and Kenedix acquire more apartment buildings in Tokyo, and 6% of Osaka's restaurants shut amidst pandemic. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Quick real estate news summary for the week
Tokyo’s office vacancy rate hits 4%, cash bonus for anyone who moves near the Fukushima nuclear plant, and apartment rents drop in Tokyo and Yokohama. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.