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Japan Real Estate Report 2015

Japan Real Estate Report 2015

BMI View: The Japanese commercial real estate market has seen an increase in international investors'interest and solid demand for property space in all three sub-sectors. Although the focus remains on Tokyo,partly due to the approaching 2020 Olympic Games, investors are increasingly looking further afield, withsignificant developments in the two other cities we monitor Yokohama and Osaka. This demand is expectedto translate into stable rental yields, with marginally rising rates in all three cities during 2015 and 2016 inthe commercial real estate market.

Japan is on a trajectory for a slow recovery as its economy crawls out of a recession, reflected in 0.0%growth during 2014. However, the country's economy continues to struggle and we expect growth to beslow over the next few years, despite the government's stimulus plans. While the weakened yen and relaxedvisa regulations have increased international investment and tourism levels, the increased sales tax from2014 and the loss of competitiveness of key Japanese industries continue to weigh on the economy. For2015, we forecast a minimal real GDP growth uptick of 1.2%, followed by a lower 0.7% through to 2019.

BMI Industry View
Political SWOT
Economic SWOT
Operational Risk SWOT
Industry Forecast
Office Industry Forecast
Table: Japan: Office Rental Rates
Table: Forecast Office Net Yields and Spread, 2012-2019 (%)
Retail Industry Forecast
Table: Japan Retail Yields and Spread Forecast, 2012-2019 (%)
Industrial Industry Forecast
Table: Industrial Rental Rates
Table: Industrial Net Yields and Spread, 2012-2019 (%)
Residential/Non-Residential Building - Outlook And Overview
Table: Residential and Non-Residential Building Industry Data (Japan 2013-2018)
Table: Residential and Non-Residential Building Industry Data (Japan 2019-2024)
Table: Japan - Public Housing Plan For Disaster-Hit Victims, Units
Table: Japan - Status Of Land Acquisition For Mass Relocation Projects
Macroeconomic Forecasts
Economic Analysis
Industry Risk Reward Ratings
Industry Risk Reward Index
Table: Japan Real Estate Risk Reward Index
Market Overview
Competitive Landscape
Demographic Forecast
Demographic Outlook
Table: Population Headline Indicators (Japan 1990-2025)
Table: Key Population Ratios (Japan 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Japan 1990-2025)
Table: Population By Age Group (Japan 1990-2025)
Table: Population By Age Group % (Japan 1990-2025)
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Real Estate Risk/Reward Index Indicators
Table: Weighting Of Indicators

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