The volume of real estate transactions in Japan has started to pick up, showing signs of an economic recovery.

In the first half of 2012, transactions of office and residential buildings in major cities (Tokyo, Osaka, Nagoya etc), reached the highest level in four years.

The total volume of transactions by listed companies, including REITs, reached 1.1375 trillion Yen (14.5 billion USD). This is 10% higher than the first half of 2011, and is the highest level since the second half of 2008 which was the time of the Lehman Shock.

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