There is something that I realized while editing our articles ‐ much of the major transactions involve foreign capital.     

To give a few examples, RREEF of Deutsche Bank Group purchased Uniqlo’s flagship store in Osaka for 19.5 billion yen [$230 million], South Korean institutional investors purchased office buildings in Koishikawa, Tokyo and a retail building in Yokohama for 10 billion yen [$120 million], and though of a smaller scale, HKR International purchased a luxury rental apartment building in Roppongi for 3.45 billion yen [$40 million]. The purchase of a high-rise condominium sold by BLife, a REIT of the Daiwa House Industry Group, is also supposedly by foreign capital.

As for transactions of undisclosed prices, Elliot Management of the U.S. bought buildings occupied by brand shops in Omotesando and Shinjuku, and as was revealed, the Republic of Peru acquired land in Hiroo. It will be interesting to see how much will be purchased with the appreciation of the yen.