Mitsubishi vacating Yokohama office tower

Mitsubishi Heavy Industries is relocating its head office operations from Yokohama to central Tokyo, joining related companies in aggregating its operations in one central location.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

Office vacancy rate in Tokyo hits 33-month low

The office vacancy rate for existing buildings in central Tokyo’s five business districts reached a 33-month low in October. According to office brokerage Miki Shoji, the vacancy rate was 5.36%, down 0.71 points from last year and the 16th month in a row to record a year-on-year decrease.  During the month, around 4,000 tsubo (13,220 sqm or 142,000 sq.ft) of space was absorbed thanks to some large-scale leases.Read more

A quick look at Harumi’s office market

Let’s take a look at Harumi’s office market as there are some noticeable vacancies this year.Read more

Tokyo's compact office market sees some record high rents

How are office rents doing for the compact sector of the office market? According to the latest biannual report by AtHome, the market seems fine. Overall, rents in Tokyo were relatively flat in the first half of 2023 but several areas saw rents hit 10-year highs. Read more

Expected yields on Japanese real estate remain at historic lows

Despite the turmoil happening in some overseas commercial real estate sectors, investors in Japanese real estate continue to anticipate record-low yields. That may be due in part to low interest rates which make it one of the few places with a positive yield spread over government bonds. The latest investor survey by the Japan Real Estate Institute in April shows expected yields have either remained the same or dropped, depending on the asset class and location.Read more

Tokyo office vacancy rates expected to stabilize at the 6% range

According to a report by Mitsubishi UFJ Trust and Banking Corporation, the office vacancy rate in Tokyo is expected to remain around the 6% range for the next five years. Rents are expected to bottom out in 2024, followed by a mild increase.Read more