Japan Real Estate News
Japan
Japan's Retail Property Market Upticks in Early 2023
According to CBRE, Japan's national department store sales in the January-March quarter of 2023 was up by 14.2% year-over-year. The growth was driven by a double-digit increase in the number of customers visiting stores all through the quarter.
The World's Luxury Property Markets Go Negative in 2023
Based on Knight Frank's latest Prime Global Cities Index (PGCI), which tracks prices in 46 leading prime markets worldwide, fell by 0.4% in the 12 months to the end of March 2023. This marks a sharp reversal from a peak of 10.1% growth in the fourth quarter of 2021.
Asia Pacific Commercial Property Investment Implodes 30 Percent Annually in Early 2023
According to new data by global real estate consulting firm JLL, commercial real estate investment activity in Asia Pacific declined by 30% year-on-year in the first quarter of 2023, as total investment activity in the region reached $27 billion.
While Global Commercial Transactions Dip 20 Percent in 2022, Japan Was Spared
CBRE Japan is reporting that while commercial real estate transaction volume declined by 20% year-over-year globally in 2022, investment volume in Japan remained largely unchanged, with only a 2% fall from the previous year.
