Transaction Comparables & Cap Rates by Area

Area-level market data based on J-REIT disclosed transactions. Areas with at least 5 transactions, including 3+ in the last 5 years, are listed (104 areas, updated weekly).

Tokyo41 areas

Minato × Office91CR 3.10%Chiyoda × Office56CR 3.45%Chuo × Office51CR 3.30%Sumida × Residential38CR 3.50%Shinjuku × Office34CR 3.20%Shinagawa × Office32CR 3.70%Shibuya × Office30CR 3.40%Edogawa × Residential29CR 3.75%Ota × Residential29CR 3.70%Chuo × Residential29CR 3.85%Shibuya × Retail21CR 3.55%Koto × Residential21CR 3.65%Shinagawa × Residential20CR 3.55%Itabashi × Residential20CR 3.70%Shinjuku × Residential19CR 3.60%Minato × Residential19CR 3.85%Suginami × Residential18CR 3.90%Taito × Residential17CR 3.30%Meguro × Residential15CR 4.20%Setagaya × Residential15CR 3.40%Kita × Residential15CR 4.00%Taito × Office14CR 3.89%Adachi × Residential12CR 3.90%Koto × Office12CR 3.60%Arakawa × Residential12CR 3.60%Toshima × Office12CR 3.80%Toshima × Residential11CR 3.70%Koto × Logistics11CR 4.10%Chuo × Hotel10CR 4.10%Chiyoda × Residential10CR 3.70%Bunkyo × Residential9CR 3.75%Taito × Hotel9CR 4.10%Nakano × Residential8CR 3.65%Shinjuku × Hotel8CR 3.80%Chiyoda × Hotel8CR 3.50%Tachikawa × Office8CR 4.40%Minato × Retail8CR 3.15%Katsushika × Residential7CR 4.00%Hachioji × Residential7CR 4.00%Nerima × Residential6CR 4.55%Nakano × Office5CR 3.20%

Chiba10 areas

Ichikawa × Residential19CR 4.60%Funabashi × Residential18CR 4.30%Funabashi × Logistics13CR 4.60%Kashiwa × Residential12CR 5.00%Ichikawa × Logistics10CR 3.50%Chiba × Residential7CR 4.50%Inzai × Logistics7CR 4.70%Nagareyama × Logistics7CR 4.20%Matsudo × Residential6CR 4.00%Kashiwa × Logistics6CR 4.00%

Osaka9 areas

Osaka × Residential98CR 3.75%Osaka × Office43CR 4.10%Osaka × Hotel28CR 3.80%Osaka × Logistics22CR 4.35%Osaka × Retail18CR 3.75%Suita × Residential12CR 3.80%Sakai × Retail8CR 4.45%Ibaraki × Logistics7CR 4.30%Sakai × Residential6CR 4.50%

Kanagawa9 areas

Yokohama × Residential43CR 3.70%Kawasaki × Residential19CR 4.10%Kawasaki × Logistics12CR 4.10%Kawasaki × Office12CR 4.55%Yokohama × Office10CR 3.80%Yokohama × Retail7CR 4.10%Yokohama × Logistics7CR 3.70%Yokohama × Hotel6CR 4.40%Kawasaki × Retail5CR 4.40%

Aichi5 areas

Nagoya × Residential115CR 4.20%Nagoya × Office20CR 3.60%Nagoya × Logistics13CR 4.10%Nagoya × Retail6CR 4.50%Aisai × Logistics5CR 3.70%

Hokkaido5 areas

Sapporo × Residential46CR 4.90%Sapporo × Office13CR 3.60%Sapporo × Hotel9CR 4.35%Hakodate × Hotel5CR 5.45%Asahikawa × Hotel5CR 5.00%

Fukuoka5 areas

Fukuoka × Office41CR 3.80%Fukuoka × Residential33CR 4.00%Fukuoka × Hotel21CR 4.05%Fukuoka × Retail18CR 4.40%Fukuoka × Logistics5CR 3.85%

Hyogo5 areas

Kobe × Residential16CR 4.30%Kobe × Logistics14CR 4.60%Nishinomiya × Residential7CR 4.10%Kobe × Office7CR 4.90%Amagasaki × Logistics5CR 4.15%

Saitama4 areas

Kawaguchi × Residential20CR 3.90%Kazo × Logistics10CR 4.65%Kawagoe × Logistics7CR 4.80%Saitama × Residential5CR 4.20%

Miyagi2 areas

Sendai × Residential16CR 4.10%Sendai × Office10CR 4.30%

Kyoto2 areas

Kyoto × Residential15CR 4.10%Kyoto × Hotel11CR 4.00%

Okinawa1 areas

Naha × Hotel9CR 4.50%

Oita1 areas

Oita × Residential7CR 4.80%

Kumamoto1 areas

Kumamoto × Residential7CR 5.00%

Kagoshima1 areas

Kagoshima × Residential7CR 5.30%

Nagasaki1 areas

Nagasaki × Residential6CR 4.50%

Mie1 areas

Yokkaichi × Residential6CR 5.20%

Ishikawa1 areas

Kanazawa × Hotel5CR 4.60%