Fukuoka Prefecture is garnering attention for its booming commercial sector and rising property values. The region recently welcomed a new luxury hotel (The Ritz-Carlton Fukuoka), a first for any international brand in Kyushu. Developed by a joint venture of five companies from Osaka and Fukuoka, the hotel occupies floors 18 to 24 of a high-rise building. With views of Hakata Bay, room prices start at approximately 100,000 yen (tax included) per night, and the building even offers a sprawling 188-square-meter suite adorned with traditional Kyushu crafts, priced from 2.5 million yen per night. Despite the steep rates, the hotel enjoys near-full occupancy every weekend, primarily from international tourists.
In a surprising turn of events, the domestic corporate group that developed the hotel sold the rights to its revenue just over a week after its opening. The buyer is a real estate investment fund headquartered in Canada. Their Japan-based representative revealed in an NHK interview that the purchase was driven by their optimistic view of Fukuoka’s future growth.
Moreover, Fukuoka has earned the top spot in commercial land value growth for the third consecutive year, with an increase rate of 5.3%, according to a nationwide land price survey. The overall land value rise, including residential and industrial areas, was 4.2%, which is higher than the national average. Local redevelopment and strong demand for office buildings and residences have contributed to this upward trend. The positive figures are bolstering expectations for the city’s continued growth, thanks to both domestic and foreign investments. Source: Fukuoka Prefecture / NHK 1 / NHK 2
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