Expected rental yields on Tokyo real estate assets hit 23-year low

Investors are expecting lower rental yields from office and residential assets in Tokyo. According to the Japan Real Estate Institute’s investors survey published on November 2022, the expected rental yield on Class A office space in Tokyo’s Marunouchi and Otemachi district was 3.2% as of October 2022, down from a 3.3% expected yield in April.

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Bidding closes on Otemachi Place

Bidding ended for office space in Otemachi Place on July 7, with a little over 10 domestic and foreign buyers expressing interest. The floor space on offer is in the East Tower and the seller is the Ministry of Finance (MOF).

Interested buyers had until July 7 to submit their proposal, which required disclosing information in the event of joint buyers, and an after-purchase management and operation plan.

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Real estate investment appetite returns to pre-pandemic levels

Corporations in Japan are now taking a different approach to their real estate investment activities. Immediately following the initial shock of the pandemic there was a sudden move toward selling off key assets in order to prop up business sheets. Now that the pandemic is subsiding and business is returning to usual, corporations are back to seeking efficient real estate assets that provide stable revenue and allow for diversification out of traditional revenue streams.

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