Positive outlook for Yokohama
At Nikota, we are positive on the outlook for Yokohama and believe the area is likely to be one of the out-performers over the coming years due to the following:
- Current supply/demand dynamics and rent levels across most asset classes
- Numerous deep demand drivers for the local economy with a strong focus on R&D
- The affordability of accommodation and livability of the area, especially when compared to Tokyo
- The ongoing, active discussion amongst Japanese corporates on flexi-working and increasing employees ability to work from home and decentralized hubs going forward
- Potential development of Japan's first, or one of their first, casinos/integrated resorts
Below is the link to an interesting report published by Savills recently on Yokohama which touches on some of the abovementioned points.