Property price boom brewing in Japan
Asia First Newsletter Real Estate
After some 25 years of continuing price decline in major Japanese cities, analysts believe a property price boom may be brewing again in Japan. Speculations of a property boom in the country came after a reported plan by Sekisui House to purchase the 20-storey Kokusai Akasaka Building in Tokyo’s prime district for some USD720m. The deal, experts said, could trigger a revival in Tokyo’s prime commercial property after the country’s real estate boom collapsed in 2006. Meanwhile, Japan's industrial production dropped for the first time in three months in February by a seasonally adjusted 2.3% from the previous month, the Ministry of Economy, Trade and Industry said Monday.