February 2010, Issue 7

Topics: Office Market

Market Forecast for 2010-2012

Rising occupancy in large buildings, rents stabilized at apparent floor


Each year, Nikkei Real Estate Market Report features predictions on office market conditions for the following three years in central Tokyo. The predictions of the six market participants differed, possibly reflecting the opaque future of the economy. A majority of the respondents reported that the 2010 market will see a recovery in occupancy of large office buildings, with rents maintaining roughly their present levels.



Interview

Concern over Double Dip Blocks Investment

Professor Kawaguchi stresses need for liquidity


The slump in the real estate market continues. While there is a general sentiment that the market is hitting bottom, the future is still opaque. What is needed for the Japanese real estate market to escape from the doldrums? Makoto Noda, General Manager of the Real Estate Consulting Division of Mitsubishi UFJ Trust and Banking, sat down with Professor Yuichiro Kawaguchi of Waseda University to discuss the future of the slumping market.



Rents and Relocations

Chuo Ward

Companies start moving in the traditional Nihonbashi office district



News Digest

Keio acquires retail building facing Shinjuku Isetan from Grove International


Most Read Articles

  • Today
  • Weekly
  • Monthly
  • 1Mitsubishi Corp acquires 20,000 m2 Ota-ku office for its REIT
  • 2Nippon Tochi-Tatemono acquires Omotesando commercial facility
  • 3Nomura sells land in Minato, Chuo-ku to builder
  • 4Retail building near Ebisu Station to be built
  • 5NTT Urban constructing retail building in Fukuoka
  • 6Kirin, Kurita relocating to Nakano Central Park
  • 7Orix acquires building in Shibakoen, Minato-ku
  • 8Kinki Nippon Tourist relocating to Kanda Fukoku Seimei Building
  • 9Marubeni obtains 3,600 m2 Hiroo site from NTT, Atrium
  • 10Thine Electronics relocating to Kanda from Marunouchi Trust Tower
  • 1Mitsubishi Corp acquires 20,000 m2 Ota-ku office for its REIT
  • 2Mitsubishi completes 140,000 m2 Marunouchi Eiraku Building
  • 3Orix acquires building in Shibakoen, Minato-ku
  • 42011 Year in Review - Top 10 Deals by Price
  • 5Retail building on Ginza Chuo-dori sold
  • 6American Home, Fuji Fire and Marine consolidating Tokyo office
  • 7Mitsubishi acquiring condo sites in Sanbancho, Chiyoda-ku
  • 8Nippon Tochi-Tatemono acquires Omotesando commercial facility
  • 9Marubeni obtains 3,600 m2 Hiroo site from NTT, Atrium
  • 10Kudan office building sold by individuals
  • 12011 Year in Review - Top 10 Deals by Price
  • 2Grosvenor acquires apartment in Roppongi
  • 3TV Asahi acquires Roppongi land owned by Lone Star
  • 4Singapore's IPC acquires hotel in Matsuyama City, Ehime
  • 5Elliott sells Hiroo apartment to individual
  • 6Morgan Stanley dissolves its hotel management company
  • 7Mitsubishi, JX to reconstruct Otemachi buildings; GFA 255,000 m2
  • 8Invesco purchases 15,000 m2 office building in Yokohama
  • 9Lone Star sells Fukuoka retail, office building
  • 10Hulic purchases Recruit Ginza 7 for Y10bn

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MORE SURVEY AND ANALYSIS Our regularly updated proprietary survey on market trends.

CLOSING RENT SURVEY

Our proprietary survey of closing rents for rental office buildings in Tokyo and Yokohama

APARTMENT RENT SURVEY

Apartment rents in popular residential areas in central Tokyo, Nagoya and Osaka.

RETAIL RENT SURVEY

Advertised rents and vacancy on major shopping streets in Ginza, Omotesando, Shinjuku, etc.

PROJECT MAP

A map and list of the 160 large-scale office building development projects currently in progress in Tokyo.

INVESTORS' GUIDE Introductory notes for investors into Japan.

OFFICE CAP RATES

Quarterly cap rate survey on office building transactions, based on our proprietary estimation

OFFICE MARKET INDEX

Advertised rents and vacancy rates in major office districts -Tokyo, Nagoya, Osaka, Fukuoka Free to access

JAPAN CITY GUIDE

An introductory guide to Tokyo sub-markets and second-tier cities for real estate professionals

Learning the basics: Tokyo and nine regional cities

Overviews of Tokyo and nine major cities, including long-termsland price changes and snapshots of major macroeconomic indices.

About Us

Founded in 1969, Nikkei Business Publications is the publisher of the Nikkei Real Estate Market Report and is the leading provider of business information and commercial property transaction data for Japan. Part of the Nikkei Group, one of the world's largest financial media companies, Nikkei Business Publications is based in Tokyo and has over 900 employees.

Editorial Hotline

Please direct your questions and comments on our editorial contents to Jun Homma.

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