Large Retail Property Stock in Japan
Findings from Xymax’s collaborative research with Dr. Naoki Katoh, Professor of Kyoto University Graduate School of Engineering
Japan’s large retail properties provide 86 sq km of retail floor area in total
Equivalent to about 1.3 times the size of Tokyo’s Yamanote line or Manhattan Island
In Japan until recently there were very limited statistics focusing on retail properties and almost no such statistics covering the entire nation. The current available retail statistics are mostly targeting retailers and providing information such as the number of stores and sales. Unlike the office property sector where regular data releases like vacancy rate are available, the retail property had no similar data releases.
To provide fundamental data for the retail property market in Japan, Xymax Real Estate Institute collaborated with Dr. Naoki Katoh, Professor at Graduate School of Engineering, Kyoto University and created a retail property database covering all over Japan. The joint team estimated the retail floor area of goods retailers, service-oriented shops, and restaurants in large retail properties (defined as goods retail area is 4,500 sq m or larger).
Furthermore approximately 1,000 properties were selected from the database as “Select 1000”, Xymax Real Estate Institute individually estimated the vacant tenant space ratio by gathering the latest vacancy data of the Select 1000 properties.
The full report is available below:
