Last Update: 09/24 2021 15:00 JST

The Monthly Edition

In-depth analysis reports delivered in a form of PDF publication
September 2021, Issue 146
Local Markets: Nagoya
Office Acquisitions Alive and Well

Major transactions continue amid rents trending downward

Under Construction Survey
Residential at Two Year High

Large offices planned for Akasaka and Shinjuku

Legislation
Utilization of Unclaimed Land

Amendment of Civil Code and Real Property Registration Act

Market Knowledge
Retail Rent Rise Expected in Ginza and Omotesando

Cushman & Wakefield: "Retail MarketBeat Japan Q2 2021"

Deals Roundup
NBF acquires portion of Iidabashi Grand Bloom for Y78bn
Relocation Update | News Digest
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August 2021, Issue 145
Transactions: 1Q 2021
Setting Up for Market Recovery

Increased investment appetite, but 2Q sales transactions below norm

Occupier Market
Tokyo Rents Dropping

Tokyo Station area lower limit drops to lowest level in six years

Market Knowledge
Sale and Lease Back Transactions Hit 200 Billion Yen

Urban Research Institute: "Real Estate Topics June 2021 'Sales Transactions of Domestic Real Estate by Corporations in Fiscal 2020', etc."

Deals Roundup
CapitaLand sells two retail facilities for Y42bn
Relocation Update | News Digest
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July 2021, Issue 144
Local Markets: Osaka
Betting on Demand Bounce

Investors not concerned even by signs of potential land price collapse

Analyst Survey
Market Conditions to Level Off

Telework slowly pushes demand down

Market Knowledge
272 Trillion Yen Property Market

NLI Research Institute: "Size of Japan's Real Estate Investment Market (1)-(3)"

Deals Roundup
Dentsu selling headquarters for Y270bn
Relocation Update | News Digest
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June 2021, Issue 143
Feature
Slew of Planned Projects

Development underway for 99 buildings, GFA of 10 million m2

Under Construction Survey
Large Nihombashi Project Starts

67 Tokyo projects and 58 Yokohama projects underway

Market Knowledge
Market to Turn to Recovery

Tanizawa Sogo Appraisal: "Real Estate Market Status (2021 Spring)"

Deals Roundup
Singapore REIT acquires HP Japan HQ
Relocation Update | News Digest
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May 2021, Issue 142
Transactions: 1Q 2021
Signs of Buyers Willing to Invest

Sales transaction volume down, but supported by corporate asset sales

Occupier Market
More Tokyo Areas Decrease Rent

Attracting tenants by lowering rents at early stage

Market Knowledge
Investments to Increase

CBRE: "Japan Investor Intentions Survey 2021"

Deals Roundup
LG sells floors of Kyobashi Trust Tower for Y27bn
Relocation Update | News Digest
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April 2021, Issue 141
Analysis
Vacancy Nightmare to Be Avoided

Floor reductions due to telework, but forecast of limited impact

Occupier Market
Seeking Tenants

Remote work slows demand at uncompleted buildings

Deals Roundup
Blackstone invests in eight Kintetsu-owned hotels
Relocation Update | News Digest
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March 2021, Issue 140
Review: 2020 Rents
Turning Trend

Relocations canceled as tenants rethink strategies

Case Study
Betting on Rebound

Marimo teams with foreign company with eye on after corona era

Under Construction Survey
Highest Since June 2019

Construction starts for 133 projects with 1.76 million m2 aggregate GFA

Market Knowledge
REIT Implied Cap Rate Rises

TMAX: "J-REIT Market Review - Trends in Real Estate Cap Rates and Implied Cap Rates"

Deals Roundup
Goldman Sachs exits Fukuoka hotel property for Y8.5bn
Relocation Update | News Digest
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February 2021, Issue 139
Transactions: 2020
Staying Afloat

Transaction volume up, difference among sectors conspicuous

Occupier Market
Offering Flexible Conditions

Rent decreases in nine areas of Tokyo and Kanagawa

Market Knowledge
Apartment Rents Down But Investment Up

Leasing Management Consulting: "Unit Price per Tsubo and Key Money for Rental Apartments in Five Major Wards of Central Tokyo (End of November 2020)"

Deals Roundup
AXA acquires rental residences in Tokyo for Y70bn
Relocation Update | News Digest
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January 2021, Issue 138
Local Markets: Fukuoka
Deregulation for Regeneration

City grants more FAR, pushes developers to design 'corona-free' buildings

Analyst Survey
Forecasting the New Normal

Office space demand will weaken, but rate of decline will slow

Market Knowledge
Listed REIT AUM Exceeds 20 Trillion Yen

The Association for Real Estate Securitization (ARES): "Monthly Report (November 2020)"

Deals Roundup
Blackstone acquires 18 properties from PAG for Y110bn
Relocation Update | News Digest
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December 2020, Issue 137
Under Construction Survey
Medium-Sized Office Projects Stay Strong

Construction starts for 74 projects in Tokyo and 51 projects in Yokohama

Market Knowledge
Changing Relocation Dynamics

Xymax Real Estate Institute: "Investigation on the Relocation Trend of Companies"

Deals Roundup
GLP J-REIT to acquire Yokohama property for Y24.27bn
Relocation Update | News Digest
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November 2020, Issue 136
Area in Focus: Ginza
Changing Retail Cityscape

Tenants move out, store rents turn downward

Transactions: 3Q 2020
Unclear Outlook

Recovery in sales transactions led by logistics

Occupier Market
Necessity Versus Need

Shibuya-ku rents fall as tenants shrink office footprints

Interview
Act on Subleased Rental Housing

Q&A with attorney Masahito Saeki

Market Knowledge
Potential Office Vacancy Nearly 5%

Commercial Property Research Institute: "Office Market Vacancy Rate Report"

Deals Roundup
Toyobo Building in Osaka transferred from PGIM to Gaw Capital
Relocation Update | News Digest
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October 2020, Issue 135
Topics: Retail Market
Changing Store Opening Strategies

Sought-after specs and locations in post-COVID era

Occupier Market
99% Occupancy at New Completions

Sense of slowdown for ongoing developments

Market Knowledge
90% of Owners Receive Rent Reduction Requests

Daiwa Real Estate Appraisal: "Survey Results on Rent Reduction/Exemption Requests"

Deals Roundup
Mitsui's logistics REIT to acquire Ibaraki City property for Y58.9bn
Relocation Update | News Digest
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September 2020, Issue 134
Local Markets: Nagoya
Demand Shift Under Pandemic

Store rents decrease, development site transactions in Meieki area

Under Construction Survey
111 Starts in Tokyo and Yokohama

Senkyaku Banrai Facility project in Toyosu Market launched

Topics
Q&A on Emergency Rent Support Program

Interview of Mori Hamada & Matsumoto attorney Masahito Saeki

Market Knowledge
Ginza Retail Rents Finally Decrease

Cushman & Wakefield: "Q2 2020 Retail MarketBeat"

Deals Roundup
AXA IM and ESR fund acquires Amazon occupied logistics facility
Relocation Update | News Digest
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August 2020, Issue 133
Transactions: 2Q 2020
Diverse Impact

COVID-19 hits market, sales amount decreased by 60% YoY

Topics
Caution Ahead

Seven indicators point to trouble in residential market in a year

Occupier Market
Telework Influencing Market

Vacancy rate increases conspicuously in Shibuya Ward

Market Knowledge
Signs of Recovery

Daiwa Real Estate Appraisal: "Leading Indicator of Real Estate Transaction Market (Change in Number of Inquiries for Appraisal)"

Deals Roundup
Apparel company Sanyo to sell Ginza flagship store
Relocation Update | News Digest
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July 2020, Issue 132
Local Markets: Osaka
Major Deal After Major Deal

Office transactions quietly strong despite uncertainty

Analyst Survey
Forecasts Dramatically Change

Inevitable market deterioration in 2021, but no significant fall in rent

Topics: Coronavirus
Who Bears the Cost?

Owners worry as tenants call for rent reductions

Market Knowledge
Real Estate Prices Amid COVID-19

Sumitomo Mitsui Trust Research Institute: "Understanding the Fluctuation of Real Estate Prices in March 2020 from Daily PPI - Impact of COVID-19 -"

Deals Roundup
AXA acquires Nagoya rental residence for Y20bn
Relocation Update | News Digest
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June 2020, Issue 131
Survey
New Peak of Office Supply Around 2025

Development underway for 96 buildings, 10.22 million m2 GFA

Under Construction Survey
Large Developments Commence

Construction starts for 1.67 million m2 GFA in 17 projects

Market Knowledge
COVID-19 Impact on 2020 Investment Policies

CBRE: "Japan Investment Major Report - Investor Intentions Survey 2020"

Deals Roundup
Goldman private REIT purchases Shibaura office building
Relocation Update | News Digest
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May 2020, Issue 130
Transactions: 1Q 2020
Sales Transactions at Five Year High

Sense of caution over REIT market conditions

Occupier Market
Woes Yet to Come

Rent increased in 12 areas

Market Knowledge
Private Fund Market Surpasses 20 Trillion Yen

Sumitomo Mitsui Trust Research Institute: "Survey on Private Real Estate Funds in Japan January 2020 - Results"

Deals Roundup
Prologis private fund to acquire four logistics facilities for Y50bn
Relocation Update | News Digest
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April 2020, Issue 129
Feature: Coronavirus
No Light in Sight

Epidemic casts shadows on hotel and retail sales

Trends
Social Impact

ESG investments take root with 150 billion yen in green bonds issued

Occupier Market
High Occupancy Continues

But market braces for rapid changes in conditions

Deals Roundup
French luxury conglomerate Kering acquires Omotesando building
Relocation Update | News Digest
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March 2020, Issue 128
Feature: 2019 Rents
Shibuya Leads Market

Increase in personnel and workstyle reform promote relocations

Under Construction Survey
Large Reconstructions Underway

Progress in 83 projects in Tokyo and 46 projects in Yokohama

Market Knowledge
Global Investment Targets Tokyo, Osaka

ANREV: "Global Investment Intentions Survey 2020"

Deals Roundup
Norway fund buys $740 mn chunk of Tokyo office
Relocation Update | News Digest
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February 2020, Issue 127
Transactions: 2019
Market Led by Logistics

Diversification progresses beyond office buildings

Occupier Market
Strong Rents in Tokyo CBD Peripheral Areas

Upper limit at 54,000 yen per tsubo in Tokyo Station area

Market Knowledge
Record Percentage Rent Revisions

Mori Building: "2019 Survey of Office Needs in Tokyo's 23 Wards"

Deals Roundup
Blackstone buys back residential portfolio of Anbang Insurance Group
Relocation Update | News Digest

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