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
Government approves 11ha Shinagawa redevelopment
The proposed redevelopment of the Grand Prince Hotel in Shinagawa is progressing with the Minister of Land, Infrastructure, and Transport issuing project approval on June 1.Read more
150-meter tall skyscraper planned for Shibuya’s Koen-dori Street
There are tentative plans for a redevelopment alongside Shibuya’s Koen-dori Street that could see a 150-meter tall, 34-story tower go up in the coming years. This will exceed the height of the 136-meter tall Park Court Shibuya The Tower condominium located 40 meters away.Read more
Honda Aoyama Building to be redeveloped
Honda Motor Company is planning to spend 50 billion Yen (approx. US$356 million) to redevelop its headquarters above Aoyama Itchome Station in central Tokyo.Read more
Omotesando office/retail buildings sold to domestic buyer
Two buildings alongside Omotesando’s Kotto-dori Street have been sold to a Kobe-based realtor.Read more
Luxury rental apartments planned for 7,000 sqm site in Omotesando
Action is finally underway for the long-idle site of the former Floracion Hotel in Minami Aoyama with Sumitomo Realty & Development announcing plans for a 70-unit luxury rental apartment building.Read more
Further restrictions on Harumi Flag apartment sales
Further sale limits have been imposed on the Harumi Flag project on Tokyo Bay to curb speculation. The repurposed Athlete’s Village condos have seen as many as 100 ~ 200 purchase applications per apartment as speculators seek to flip them once complete.Read more