Why Overseas Investors Are Lining Up for Japanese Commercial Real Estate
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Tokyo enjoys an investment edge other global cities can’t match, Kaizuka writes.
TOKYO—Japanese Prime Minister Shinzo Abe’s far-reaching economic stimulus has helped keep interest rates near historical lows while encouraging private investment. Real estate investors have been among the biggest beneficiaries of Abe’s policies to date, particularly those involved in Tokyo’s commercial property market.
While there is no public or private aggregation of commercial property values in Tokyo, businesses are clearly on the prowl for more space. Office occupancy rates in the city are rising at a steady clip, and vacancies have fallen for 12 straight quarters. Increased demand is buoying rental prices, with office rents recently topping ¥17,400 per month after plumbing depths as low as ¥16,207 in December 2013…
Why Overseas Investors Are Lining Up for Japanese Commercial Real Estate
