The market for whole residential building renovation and re-sale has taken off dramatically in Japan. Whole building renovations involve a real estate company or investment firm acquiring an entire apartment building (usually a rental-only building) and land, refurbishing interiors including common areas, and then re-selling the apartments individually to various buyers.
According to the Real Estate Economic Institute, there were 27 refurbished buildings containing 1,512 apartments offered for sale in 2015, up from just 3 buildings and 77 apartments in 2005.
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