27/01/2017

Interest Rate Concerns Emerge, Property Prices Forecasted to Decline after Going Sideways~The Thirteenth Japanese Property Market Survey~

mamoru masumiya 

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■要旨
 
  • The thirteenth annual property market survey indicated that the current sentiment remained strong with “Good” or “Somewhat good” accounting for 74% of responses, declining however from around 90% of responses over the past three years.
     
  • Regarding the six-month outlook, “No change” accounted for two-thirds of the responses, suggesting the market has lost direction.
     
  • When asked which property sectors were the top three preferable investment targets in terms of price appreciation and market growth, “Hotel” ranked first, selected however by 20% less respondents than last year.
     
  • When asked which risk factors were the top three influential concerns for the property investment market, “Interest rates” ranked first followed by “the U.S. and EU economies” at second.
     
  • Regarding the J-REIT market forecast, 72% of respondents selected “0~+15%” of return for the TSE REIT index in 2017.
     
  • Finally, when asked about a likely pathway of property prices in Tokyo, “Go sideways for a while and decline before or after the 2020 Tokyo Olympic Games and thereafter” accounted for about 40% of the responses.

■目次

Introduction
Results
  1. Current Sentiment
  2. Six-Month Outlook
  3. Preferred Sectors
  4. Risks for Property Investment
  5. J-REIT Performance Forecast for 2017
  6. Likely Pathway of Property Prices in Tokyo

mamoru masumiya

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