Let’s take a look back at Japan’s real estate market over the past 12 months.
Market Conditions
2015 remained a seller’s market with multiple offers made on properties, and popular listings selling out within days or weeks.
Supply was incredibly tight in the first half of the year. This goes for both existing properties and new construction. We have noticed a slight increase in new listings over the past few months, but at increasingly higher prices. Also a number of those new listings have been tenanted properties, which means they are sold with a tenant in place and cannot be inspected. These can only be purchased by investors, and can be a difficult sell. Transactions have also continued to climb, so a lot of the new supply is being met.
Demand for quality buildings is high, but we are seeing some price reductions on the low and mid-range properties as they start to reach their price ceiling.
Where is this demand coming from?
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