Last Update: 06/23 2021 14:00 JST

Figures and Statistics

Coverage of various third-party market reports and our findings

Japan drops two ranks to 16th in RE transparency: JLL

The Japanese real estate market’s transparency is 16th in the world. JLL released the results of its Global Real Estate Transparency Index 2020, which it conducts every two years together with LaSalle Investment Management. The Japanese market fell two spots in the overall ranking from 14th in the previous survey.

COVID-19 affects asset types differently: Daiwa Real Estate Appraisal

Daiwa Real Estate Appraisal announced the results of its questionnaire survey on the impact of COVID-19. While negative views of the real estate transaction market and appetite for acquisition were limited to 10% to 20%, over half of respondents expect post-pandemic real estate prices to be lower than before COVID-19. However, different asset types varied significantly. The questionnaires were sent to those in charge of property acquisition at client companies of Daiwa Real Estate Appraisal.

BOJ survey indicates business conditions declining due to coronavirus

Business sentiment in the real estate industry are declining. According to the Bank of Japan’s (BOJ) Short-Term Economic Survey of Enterprises in Japan (Tankan) released on April 1, the real estate industry’s business conditions diffusion index (DI) in March was 32 percentage points for large enterprises. While still in the favorable range, this is three percentage points lower than the last survey (December 2019). The forecast for three months from now is a significant 13 percentage points decline.

Loans to real estate exceed Y100tn for first time

The balance of outstanding loans granted by domestic financial institutions (banks, credit unions, governmental financial institutions, etc.) to the real estate industry exceeded 100 trillion yen [$900 billion] (Figure 1) for the first time.

Loans to real estate reach Y99tn as capital demand remains avid

The balance of outstanding loans granted by domestic banks and credit unions to the real estate industry was approximately 99 trillion yen [$860 billion] as of the end of September 2018, setting a new record high. The figure was calculated by Nikkei Real Estate Market Report based on data announced by the Bank of Japan and the amount of increase was approximately 2.12 trillion yen [$18 billion] in the past six months.

Loans for individuals decreased 20% and for real estate reach turning point

Apartment loans for retail investors are slowing down rapidly. According to the data announced by the Bank of Japan on August 9, the amount of new loans in the second quarter (April to June) of 2018 was 693.2 billion yen [$6 billion] (Figure 1). It decreased by 20% year-on-year and by 36% from the first quarter (January to March) of this year.

J-REIT market exceeds Y20tn: ARES

According to the survey conducted by the Association for Real Estate Securitization (ARES), the size of the J-REIT market exceeded the 20 trillion yen [$170 billion] mark in the second quarter (April to June) of 2018 by total AUM on an acquisition price basis.

No celebration despite Japan rising to 14th in RE transparency: JLL

Japan was ranked 14th globally in terms of the transparency of its real estate market. On July 25, Jones Lang LaSalle (JLL) released the 2018 results of its biannual Global Real Estate Transparency Index. Japan's market came 14th in the composite world ranking, five spots up from the previous survey where it ranked 19th. However, looking at the substance of the report, the reality is that this simply cannot be celebrated.

Loans to real estate hits highest ever at Y97tn; momentum likely to peak out

It has been revealed that the balance of outstanding loans granted by domestic financial institutions to the real estate industry has again set a new record highest amount ever, reaching 96.888 trillion yen [$860 billion] as of the end of March 2018. The amount increased by 5 trillion yen [$45 billion] in a year until March 2018. The increase rate is 5.4%.

Loans to real estate continues to increase, balance at almost Y95tn

The balance of outstanding loans granted by domestic financial institutions to the real estate industry continues to set new record highs in amount. According to the data announced by the Bank of Japan on February 8, the balance as of the end of 2017 was 94.9449 trillion yen [$850 billion]. It was an increase by 5.8%, 5.2068 trillion yen [$46 billion] from the end of the previous year.

Loans to real estate hits record Y94tn, growth rate declines

As of September 2017, the balance of outstanding loans granted by domestic financial institutions to the real estate industry reached 93.9332 trillion yen [$810 billion], the highest amount ever recorded. The increase in the first half of fiscal 2017 (April to September) was 2.1267 trillion yen [$18 billion] with a growth rate of 2.3%. Its ratio to the total balance of outstanding domestic loans, including other industries, has also risen steadily. As of September, it was 15.9%, approaching the 16% range for the first time.

Tokyo drops sharply to 12th in Asian city to invest in: ULI

Tokyo that was ranked first in the city investment prospects in the Asia Pacific region until 2016 dropped sharply to 12th in 2017. Bangalore, India was ranked first instead. The city investment prospects ranking has largely changed according to the investors survey jointly prepared by real estate association Urban Land Institute (ULI) and accounting and consulting firm PricewaterhouseCoopers (PwC) every year.

Real estate investment market levels off: JREI Survey

The current real estate investment market has reached its peak in the market cycle. It has become clear that many institutional investors have this understanding from the results of the October 2016 Japanese Real Estate Investor Survey publicized by appraisal institution Japan Real Estate Institute (JREI) on November 24.

New loans to real estate exceed Y7tn in first half of FY2016

New loans granted by domestic private and public financial institutions to the real estate industry in the first half of fiscal 2016 (April to September) amounted to 7.2176 trillion yen [$67 billion]. This compiles new loans for "equipment installation capital" targeting acquisition and development of real estate properties for lease and indicates an impressive 14% increase year-on-year. Setting a new record for the April to September period, it shows that financial institutions' lending attitudes remain proactive.

Private fund market expands for first time in four years

The domestic private real estate fund market has expanded after four years of shrinkage, show the results of Sumitomo Mitsui Trust Research Institute’s (SMTRI) survey of real estate asset management companies that it has conducted twice a year since 2003. According to the survey, after the total AUM of private funds (including the domestic assets of global funds) peaked at 18.1 trillion yen [$170 billion] in June 2012, it shrank to 14.8 trillion yen [$140 billion] in the last survey in December 2015 without ever turning upward.

Overseas pension funds proactive to invest in Japan: Research

According to the report of Urban Research Institute, movements to proactively make long-term investments in Japan by major overseas pension funds have been gradually seen while transactions of Japanese real estate by foreign investors are turning to a trend in which selling exceeds buying.

Japan moves up in transparency, though issues remain: JLL

On July 20, Jones Lang LaSalle (JLL) announced the 2016 results of its biannual Global Real Estate Transparency Index. Japan's market came 19th in the composite world ranking. Helped by expansion of the REIT market, this was a big jump from 26th in 2014.

Loans to real estate hits record high; Y2tn increase in 1Q 2016

The balance of outstanding loans granted by private and public financial institutions to the real estate industry exceeded the past high by reaching approximately 86 trillion yen [$760 billion] as of the end of March 2016. Compiled by the Nikkei Real Estate Market Report based on the Bank of Japan's data, the amount of increase reached 2.2 trillion yen [$19 billion] in the first quarter (January to March) of 2016 alone. The capital inflow to the real estate market is accelerating.

Decrease in expected cap rate for Tokyo offices stops at multiple sites: JREI

The decrease of the expected cap rate for Tokyo’s Class A office buildings stopped at seven sites, half out of the total 14 sites. This trend has become visible from the results of the April 2016 Japanese Real Estate Investor Survey publicized by Japan Real Estate Institute (JREI) on May 24.

2016 land price survey show Ginza's Yamano Music at record high

The publicly announced land prices, or Koji Chika, as of January 1, 2016, announced by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) on March 22 show that the land price of Yamano Music's flagship store in Ginza 4-chome (4-5-6 Ginza, Chuo-ku) was 40.1 million yen per m2 [$350,000 per m2], the highest publicly announced land price on record. This is 18.6% higher than last year.

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