12/04/2016

Cross Border Capital Flows into Japanese Properties in 2015-Risk-Off Sentiment Restrains Property Transactions-

mamoru masumiya 

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■Summary
  • While the risk-off sentiment spread into financial markets all over the world, the transaction volume of Japanese properties shrank for the first time in four years in 2015.
  • The volume of acquisitions of Japanese properties by cross border capital fell short of half of that of the same period one year ago in the second half of 2015.
  • Cross border capital decreased acquisitions for all property sectors, however, Asian capital increased to acquire Japanese hotels.
  • Cross border capital has shown an increasing preference for Tokyo.
  • Both U.S. and Asian capital decreased acquisitions of Japanese properties.
  • It is not likely that cross border capital acquisitions of Japanese properties will increase for the time being, however properties with a growth driver, or positioned to benefit from the better infrastructure of Tokyo will continue to attract cross border capital.

■Contents

1.Transaction Volume of Japanese Properties
2.Volume of Acquisitions by Cross Border Capital
3.Sector Preference
4.Concentration on Tokyo
5.Capital Inflows from the U.S. and Asia
6.Final Note

mamoru masumiya

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