THE MONTHLY EDITION

Transactions: 2024
Record High Volume Since GFC
Hotel transactions double
Occupier Market
Slight Upward Trend Continues
Upper limit around Tokyo Station rose to Y52,000 per tsubo
Market Knowledge
Improving Employee Engagement Drives Office Demand
CBRE: "2024 Japan Office Occupier Survey"
Deals Roundup
Rivulets enters Japan and acquires former De Beers Ginza Building
Relocation Update | News Digest

Local Markets: Fukuoka
New Office Rent Record in Tenjin
Large transactions exceeding 10 billion yen completed in nearby districts

Feature: Data Centers
Foreign Players Taking the Lead
Over 820,000 m2 GFA planned across Tokyo, Kanagawa and Chiba

Area in Focus: Ginza
Bulk of Buildings Sold
Revitalizing stagnant hotel developments

Topics
Impact of Rising Interest Rates
Investors factoring in "2% long-term interest rate," opinions split on effects of cap rate

Local Markets: Nagoya
Against the Headwinds
Rental market stable as occupancy recovers

Transactions: 1H 2024
Large Deals on Rise
Supported by hotel and REIT transactions

Local Markets: Osaka
Competition for Tenants Erupts
Landlords pressured by largest office supply to date

Survey
Mass Supply Again in 2028
Plans for 120 Buildings totaling 13.74 million m2 are underway

Feature: MIPIM
Aftermath of Interest Rate Shock Continues
Real estate markets look for exit

Local Markets: Sapporo
Enthusiasm and Anxiety
Will top rents reach the 30,000 yen per tsubo mark?

Case Study: Renovation
Convert Rather Than Rebuild
Despite being 30 years old, contracted rent comparable to new buildings

Transactions: 2023
Rapidly Expanding Hotel Investments
Changing tides of post-Covid era becomes clear

Local Markets: Fukuoka
Subway Extension Accelerates Investments
Attention on office demand continues

Area in Focus: Ginza
Rush of Store Openings
Rents on high streets exceed pre-Covid-19 levels

Occupier Market
Tenant Activities Lack Momentum
Occupancy rate of 35 new buildings at 61%

Local Markets: Nagoya
Wait and See
All eyes on Linear Chuo Shinkansen development

Transactions: 2Q 2023
Logistics Facilities Underpin Market
Total transaction volume decreases by 25%

Local Markets: Osaka
Kansai Booms with Tourism Revival
But it comes with new challenges

Survey
Supply in 2023 to Triple that of 2022
Plans for 116 buildings totaling 12 million m2 underway
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