Utmost Optimistic Sentiment Still Rising, but Property Prices to Peak Out by 2017-The Eleventh Japanese Property Market Survey-
金融研究部 主任研究員 増宮 守
- The eleventh annual property market survey indicated that the sentiment improved further with “Good” responses accounting for more than half of responses for the first time since 2008.
- Regarding the six-month outlook, “Somewhat better” and “Better” responses predicting higher prices or more transactions still accounted for more than 50% of responses.
- When asked which property sector is the most preferable in terms of price appreciation and market growth, the “Hotel” sector overwhelmed other sectors such as “Office” and “Healthcare property.”
- When asked which risk factors were most anticipated, more respondents chose the “Global economy” than the “Domestic economy,” and not a few respondents chose “Foreign exchange.”
- Regarding the J-REIT market forecast, 68% of respondents chose “0～+15%” performance and not a few respondents chose “+15～+30%” for TSE REIT index in 2015.
- Finally, when asked the peak period of property prices in the medium term, more than half of respondents chose “2016～2017” and nearly one fourth of respondents chose “Now.”