Real Estate

A village near Kushiro, Hokkaido, is acquiring a 7.5 hectare land parcel adjoining the Kushiro Shitsugen National Park in an effort to block a

Hotel Tateyama, a modernist hotel sitting atop the snowy Tateyama mountain in Toyama Prefecture, will be closing its doors on August 31, 2026, ending

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Lotte Holdings plans to expand its operations in Japan to 20 hotels and 4,500 rooms under management by 2034, leveraging its decades of experience

Kyushu Railway Company, aka JR Kyushu, is developing a 7-story rental office building near the JR Higo-Ozu Station in Ozu Town, Kumamoto. The building

Japan’s land prices increased for the sixth straight quarter, according to the latest LOOK Report published by the Ministry of Land, Infrastructure, Transport, and

Honda Motor is transferring partial ownership of its Honda Aoyama Building to Mitsui Fudosan Residential, according to a press release issued by the developer

A Tokyo-based cloud service provider has opened a GPU data center inside a former elementary school building in Saga, Kyushu. This is the first

On August 26, a group aiming to restore and revitalize the Kenzo Tange-designed Kagawa Prefectural Gymnasium in Takamatsu City announced plans to file a

The town of Niseko has found itself in a court battle after a former landowner claimed that a large parcel of land had been

Mitsubishi Estate, Tokyu Land, and CRE are jointly developing a 700,000 square meter next-generation logistics facility on a former U.S. Naval facility in Yokohama.

The average asking rent of an apartment in Tokyo’s 23 wards reached a record high of 4,851 Yen per square meter in July. This

Global Agents, the operator of ‘social apartments’ or co-living housing, opened its first property in Osaka City on August 9 in collaboration with the

Mizuho Financial Group announced the establishment of a new value-add fund to acquire aging buildings over 20 years old and improve their environmental performance.

On August 7, Ukai, the operator of fine-dining restaurants around the greater Tokyo area, announced the sale of the operating rights of the Hakone

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

Japan’s hotel industry continues to hit new strides as inbound tourism reaches new highs, but may be facing a supply crunch. Among the 13

Mitsui Fudosan has announced plans to invest an additional 300 billion Yen (US$2 billion) in data center development by 2035, doubling down on its

Construction costs in Okinawa reached a record high of 298,900 Yen per square meter in 2024, the highest level since record-keeping began in 2014

On July 23, Dai-Ichi Life announced the completion of a timber and steel hybrid office building in Tokyo’s Kyobashi address.  At a height of

Rent an ‘akiya’ for ten years and it’s yours. That’s what one construction company in Miyagi Prefecture is offering under its recently-introduced rent-to-own business.

Asking rents in Tokyo’s 23 wards reached 4,803 Yen per square meter in June, up 2.4% from the previous month and up 10.8% from

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Tokyo’s Chiyoda Ward is requesting that developers impose a 5-year resale ban on new condo sales in an effort to curb speculation from foreign

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Short-term rental conversions are becoming a growing source of tension in Japan’s multi-family sector, with some landlords attempting to illegally force out long-term tenants

Tokaido REIT is swapping student housing and multi-family assets with a student housing operator, with the deals to take place over the next three

The office vacancy rate in central Tokyo’s five business districts reached a 57-month low, dropping to 3.56% in May, according to office brokerage Miki

Rental hikes, inflationary pressures, and a recovering office market. It was a quarter of recovery for many sub-sectors of Japan’s real estate market. Our

A theme park developer and operator has acquired Izu Kanko Kaihatsu Co., Ltd. from Tokyu Land Corporation in a share buyout. The Shizuoka-based company,

NTT UD REIT Investment Corporation sold its share of the Research & Development building in the Kanagawa Science Park at a 1.143 billion Yen

The ‘rosenka’ or roadside land values across Japan increased by an average of 2.7% in 2025, expanding on a 2.3% increase in 2024 and

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There has been a long-held belief that apartments with full bath tubs are a lot easier to lease out than ones with just showers,

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Fukuoka’s city center is seeing an influx of high-end rental listings as landlords target increasingly affluent tenants. While the city’s growth is creating pockets

With electrical supply struggling to keep up with growing demand, Chiba’s Inzai City, also known as ‘Data Center Ginza’, may be overtaken by other

Foreign students in Japan can often have a hard time finding rental housing due to discrimination and a leasing system that favors local and

A recent survey of 2,000 residents carried out by Hakuba Village found that approximately 60% of them believe there should be stronger restrictions in

The Nomura Real Estate Master Fund (NMF) is acquiring a 68-room hotel in Fukuoka for 3.8 billion Yen, or around 55.9 million Yen per

On June 6, Seibu Real Estate released details on the redevelopment plans for the Grand Prince Hotel Shin Takanawa on  the western side of

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This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

Marriott International is planning to open a hotel in Koshu Valley, a famous wine region in Yamanashi Prefecture. Koshu City has struggled with a

Tokyo’s Meguro ward is considering relaxing building height limits to encourage developers to build more energy-efficient housing. Typically, discussions over height regulations have revolved

The number of rental homes and apartments that welcome older tenants, defined as those over the age of 65, has doubled over the past

A research report by the Nikkei Shimbun newspaper has found a sharp increase in the number of large office buildings facing long periods of

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This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

By 2027, Nissan Motor is considering the closure of seven plants worldwide, two of which are located in Kanagawa Prefecture. This follows news that

Mitsubishi Estate, TSB Holdings, and Hilton announced that the 174-room Canopy by Hilton Tokyo Akasaka is planned for the Akasaka 2•6 Chome District Redevelopment

With growing demand for data center projects, driven largely by the expansion of cloud services and generative AI, and increasing tensions with local residents,

Tokyo’s Chuo City has started a program to acquire land with old ‘akiya’ or vacant homes that are at risk of collapsing or spreading

Hoshino Resorts, operator of a number of ryokan and hotels, has launched a new hotel brand centred around mountain resorts. The goal of the

Tokyo Metro, operator of Tokyo’s largest subway system, is launching its own hotel brand and operations utilizing land it owns around major train stations

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Rents for Grade A office in central Tokyo have recovered to 2021 levels, according to Sanko Estate and the NLI Research Institute. Average monthly

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

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

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

One REIT acquired the trust beneficiary rights to the Comfort Inn Nagoya Sakae Ekimae hotel in March for 7.74 billion Yen. This is the

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Developer Tokyo Tatemono announced the official name of its new skyscraper under construction on the Yaesu side of Tokyo Station. TOFROM Yaesu is a

Foreign tourists spent 41.5% more nights in hotels in 2024 compared to 2019, according to the Japan Tourism Agency. Total nights by domestic and

On February 28, Hino Motors announced the sale of a portion of its land holdings to a real estate developer. The sale price was

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For the past four quarters, land prices rose across all surveyed locations in major cities, according to the latest quarterly LOOK report published by

Yokohama City has selected a group to develop two adjoining land parcels in the Minato Mirai waterfront district. The group signed a land purchase

Construction of Toranomon Alcea Tower was officially completed on February 14, though tenant move-ins are expected to begin towards the end of the year.

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The average advertised rent of condo-type apartments in Tokyo’s 23 wards reached 4,332 Yen/m2 in January, according to Tokyo Kantei. This is a 0.9%

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

Hotel occupancy rates in Kyoto may have yet to recover to 2019 levels, but ADRs have reached new highs. The Kyoto City Tourism Association

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This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

ANA Crowne Plaza Osaka, an IHG Hotel, is closing its doors on October 15, coinciding with the end of the building’s fixed-term lease. This

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

Greater Tokyo (Tokyo, Saitama, Chiba, and Kanagawa prefectures) saw a net inflow of 135,843 residents in 2024, up 7.4% from 2023’s figures and the

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Over the summer, a luxury rental apartment building along the coast in Zushi was completed. The 5-story, 27-unit building is targeting tenants from Tokyo

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This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

A high-rise hotel planned in the historic Nozawa Onsen village is causing a stir, according to a recent article in the Shinano Mainichi Shimbun

ORIX JREIT is acquiring two serviced-apartment style hotels in Osaka and Kyoto for 7.85 billion Yen (approx. US$50 million). The price per key is

On December 23, the Japanese government announced the results of an investigation into land and real estate purchases in the vicinity of important military

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Details on the redevelopment of the Imperial Theatre in Tokyo’s Marunouchi district were announced last month. The 59-year old theatre will be replaced with

Record deals, record tourist numbers, and record hotel pricing. It was a record quarter for Japan’s real estate market. Our Japan Real Estate Market

This year, the government is cracking down on the naughty and widespread practice whereby listing brokers will intentionally prevent buyer-side brokers from bringing in

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This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

Each year, a number of ski resorts across Japan cease operations. These closures are often due to shrinking visitor numbers, rising operational and maintenance

With inflation-adjusted real wages remaining stagnant in Japan, how have residential rents in major cites been faring? If you only look at advertised rents,

A town-owned onsen hotel in Wakayama Prefecture’s Shirahama district will go up for sale next month, with an appraised value of just 7.6 million

The real estate market in Chitose City, Hokkaido, is going through a sudden and drastic change with residential rents and land prices doubling and

Hilton is planning to open a luxury 60-room hotel on a waterfront site in Miyajima, Hiroshima, in 2028. Hirogin Holdings, parent company of Hiroshima

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Amid rising material costs and a shortage of labour in the construction industry, over 30% of Build To Rent-type developers are reportedly delaying or

Tokyo’s office market continues to show signs of gradual recovery as vacancy rates improve and rents stabilize. While bayside submarkets continue to struggle with

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Ichigo Hotel REIT has sold a 302-room hotel in Osaka to an unnamed buyer for 7.75 billion Yen (US$50 million), 2% more than the

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By 2050, the share of single-occupant households in Tokyo is expected to reach a record high of 54.1%, according to the National Institute of

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This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

According to the Kyoto City Tourism Association, the average operating ratio across the 109 hotels surveyed was 76.7% in September. This was a 1

Lingerie company Wacoal Holdings is looking to offload its non-core real estate assets, as reported by the Nikkei Shimbun. And one of those assets

Mitsui Fudosan and Mitsui Fudosan Resort Management are opening a luxury hot spring hotel on a 13.5 hectare site in Hakone in 2026. Hotel

The office vacancy rate in Sapporo’s business district has recently hit an eight-year high. According to Miki Shoji, the vacancy rate was 4.08% in

Almost 20% of wooden buildings built to the old earthquake codes (pre-1981) were destroyed in the 2024 Noto Earthquake that occurred on January 1,

The Shibuya 2 Chome West District Redevelopment project will kick off in a few months. This project includes National Strategic Housing, giving it a

Last month, Nomura Real Estate Development and Nomura Real Estate Wellness started construction on a senior-housing rental apartment building in Tokyo’s Meguro ward. The

Heiwa Real Estate, Mitsubishi Estate, and Chuo-Nittochi Group have announced plans for a 140-meter tall, 27-story office tower between Kayabacho and Nihonbashi Stations in

The rise in inbound tourism is outpacing Hakuba’s supply of hotels, leading to a shortage of beds this ski season. Hotels opened up their

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Some countries and international cities may be banning Airbnb-style accommodation in an attempt to alleviate a housing crisis, but not Japan. With inbound tourism

The Hokkaido Railway Company (aka JR Hokkaido) is revising its plans for a skyscraper in front of Sapporo Station. Rising construction costs have seen

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

Our Japan Real Estate Market Report for the third quarter of 2024 is now available for download. This report dives into recent trends and

JR Kyushu is planning to open a new station alongside the Hohi Line between Haramizu and Sanrigi Stations in 2027. In conjunction, Kikuyo Town

The Japan Prime Realty Investment Corporation J-REIT is acquiring a 153-room hotel on the eastern side of Nagoya Station. The acquisition price is 6.5

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

At a city council meeting on September 17, Tottori City Mayor Yoshihiko Fukazawa announced a delay in the proposed development of a Marriott-branded hotel

Sapporo City in Hokkaido is experiencing a rise in residential rental prices as the rapid increase in construction costs spreads to consumers. A larger

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Standard Land Prices were announced on September 17, and a small town of just 36,000 residents in Kyushu topped the nationwide ranking for commercial

Central Tokyo’s office vacancy rate dropped to 4.76% in August, the lowest level seen since December 2020, according to brokerage Miki Shoji. For existing

Kikuyo Town near Kumamoto, the center of Kyushu’s semiconductor manufacturing boom, is preparing a new industrial park across the street from TSMC’s two chip

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This November, Tokyu Land Corporation will open a 13-story tenant office building (pictured above) in Sapporo’s Susukino neighborhood, the biggest entertainment district north of

Fukuoka REIT, whose sponsors include the Kyushu Electric Power Company and Fukuoka Jisho, has acquired two assets in Kyushu in August, as it further

Keihan Real Estate, a subsidiary of rail-related Keihan Group, along with several other companies, is planning a 60 billion Yen (US$415 million) hotel resort

Kanden Realty & Development, a subsidiary of the Kansai Electric Power Company, has paid over 30 billion Yen (US$208 million) for the former headquarters

In a data-driven analysis into Tokyo’s multifamily real estate market, we examined a sample of 50 apartment buildings comprising nearly 1,000 units listed for

Châteraisé, a confectioner based in Yamanashi Prefecture, has acquired the Grande Polaire Katsunuma Winery from Sapporo Beer for an undisclosed price. This content is

A 130-meter tall, 21-story mixed-use building is planned for part of a city block just south of Iidabashi Station. This project will be primarily

Inzai City in Chiba is experiencing a data center rush and a doubling in city tax revenues as major operators set up shop in

Plans to convert a golf course in Kami Town, Miyagi Prefecture, into a mega solar farm have drawn opposition and allegations of fraudulent misrepresentation

If you are investing in multifamily assets in Japan, you’re probably thinking about the potential to raise rents in the near future. But, Japanese

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Office rental data published by Sanko Estate illustrates how different sized buildings fared during the pandemic. Given the overwhelming number of small and medium

Foreigners and potentially foreign-directed domestic companies acquired 90.6 hectares of farmland in Japan last year, according to the Ministry of Agriculture, Forestry and Fisheries.

Plans for a luxury mixed-use development next-door to Fukuoka’s Canal City might be put on hold due to a labor shortage and rising construction

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Although office vacancy rates in Tokyo have been shrinking and rents appear to be recovering from a recent low, incentives, such as free rental

Kyushu may have a new hotspot, with Taiwan-based Advanced Semiconductor Engineering, Inc. (ASE) signing a provisional purchase agreement on land in Kitakyushu on July

Nippon Building Fund (NBF) has sold a 61-year old office building in Toranomon back to its sponsor, Mitsui Fudosan, for just 860 million Yen

A Hong Kong-based tech and investment firm has acquired the Awashima Hotel in Shizuoka. This resort hotel is located on a small, uninhabited island

The Shinkansen bullet train was developed as passenger transport, but in recent years there have been trials to use this high-speed rail for cargo

Despite the excitement surrounding the new semiconductor plants in Kumamoto, new housing starts in Kikuyo and Ōzu towns have dropped drastically. In February of

On July 22, the World Trade Center Building, Kajima Corporation, Tokyo Monorail, and JR East announced that Raffles will be opening their first hotel

It might have seemed like the end of the line for Sharp’s LCD factories, as strong offshore competition saw the electronics maker face a

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Residential rental listings offering no deposit are on the rise across greater Tokyo, but those offering no key or gift money are becoming less

Residents of Hiroshima’s Miyajima island are vehemently opposed to government plans for a luxury hotel. The proposed hotel site is 3 kilometers or 10

Our Japan Real Estate Market Report for the second quarter of 2024 is now available for download. This report dives into recent shifts and

A news program recently ran a segment on how temples and shrines are being sold off, typically due to not having any successors or

Fosun International is selling Hoshino Resort Tomamu for approximately 40.8 billion Yen (US$252 million). Development of the 5,000 hectare mountain resort began in the

On July 1, the National Tax Agency published the annual ‘rosenka’ land tax values, with the nationwide average rising for the 3rd year in

Harumi Flag, the conversion of the Athlete’s Village on Tokyo Bay, is facing an oversupply issue as hundreds of investors and landlords put their

A Hong Kong fund has pulled out of a historic hotel conversion project in Kitakyushu’s Mojiko district due to fundraising difficulties. The project would

Small-lot real estate fund creator and operator, Financial Partners Group (FPG), has acquired the 18th and 21st floors in Roppongi Hills Mori Tower. This

Let’s take a look at some recently reported sales on commercial buildings, including multi-family, office and retail. It’s important to keep in mind that

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Next month, Netflix is coming out with a fictional series based on ‘jimenshi’ (地面師), or real estate fraudsters, called Tokyo Swindlers. It looks to

An 18-hectare parcel of undeveloped forest in Kumamoto Prefecture that once had a lofty goal of being a silicon valley-type IT hub is now

Lately, Fukuoka seems to be a popular topic for foreign institutional investors. We have had several conversations with inbound investors looking to explore opportunities

A 10-story office building across from Yasukuni Shrine in Tokyo’s Chiyoda ward has changed hands for the third time in three years. NTT Urban Development

Of the 3,836 companies listed on the Tokyo Stock Exchange, 94 reported the sale of real estate holdings in 2023. This is down from

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After opening its first Asian location in Kyoto in 2020, Fukuoka has been selected as Ace Hotel’s second location. The hip Seattle hotelier will

Kyoto City was in discussions with the owner of a nationally registered Tangible Cultural Property after learning of plans to sell the 150+ year

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Isetan Mitsukoshi Holdings is planning to invest 500 billion Yen (approx. US$3.2 billion) in a large-scale redevelopment project in the neighborhood around its landmark

A domestic developer acquired a 450 m2 development site in Omotesando in February. The property was sold off-market and the transaction price was not

There has been an abrupt change in plans for a hotel in Tachikawa, Tokyo. News of its closure and proposed redevelopment made headlines last

Ginza is perhaps the most famous retail destination in Japan. It’s also the most expensive in terms of rent and land prices and amongst

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

This content is available to paid subscribers only. Sharing information on Japan’s real estate market has been a long passion dating back 14 years.

There is a growing divide in the rental market between the small studio-type and larger family-type apartments in Japan’s major centers. Based on the latest

Hotel construction may have resumed to a normal pace post-pandemic, but the average floor size per building is shrinking rapidly. Nationwide, the average GFA

With Japan’s inbound tourism market now starting to exceed pre-pandemic levels, conditions are looking positive for hotel operators. A recent survey by Tokyo Shoko

With the coming relocation of a university campus and expectations of a rise in tenant demand, one railway company in west Japan has embarked

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Domestic travel spending by Japanese travellers saw a 14.8% increase in 2023 compared to the pre-pandemic level in 2019. According to the Japan Tourism

Japan has 9 million empty homes, according to the latest House and Land Statistical Survey published by the Ministry of Internal Affairs and Communications

A high-rise tower containing luxury rental apartments and an internationally-branded hotel is set to open in Yokohama in 2027. On April 10, Sumitomo Realty

Major corporate tenants in Tokyo are placing increasing priority on location as they seek convenience. Offices with better transport access are seeing vacancy rates