A large crowd of potential investors turned up to find out more about Japan’s real estate market from industry experts.
Attendees were given an overview of upcoming infrastructure developments in Japan, as well as updates on property regulations and taxation.
By Mindy Chong
Held for the first time on 9 and 10 September at The St. Regis Singapore, PropertyGuru’s Japan Real Estate Market Outlook seminar attracted more than 360 local and overseas investors. Organised in partnership with Japanese developer Dualtap, highlights included insights into Japan’s property market for 2018 and an overview of real estate laws and tax regulations.
Sigrid Zialcita, managing director and head of Asia Pacific research at Cushman & Wakefield said: “Tokyo is the largest metropolitan area in the world with 37 million people within 7,000 sq km of land area. Between 2010 and 2014, residential properties in Tokyo have shown a capital appreciation of 25 percent.
“Rental growth rose by seven percent in Tokyo in the past two years. For other secondary cities, rental growth is between one to four percent. With low interest rates, yields are likely to stabilise at four percent.”
She added that Japan has been preparing to host various events such as the Tokyo Olympics in 2020, 2019 Rugby World Cup, World Masters Game Kansai 2021, and Japan’s first integrated casino resort. Factors such as low unemployment rate, increased jobs creation and expanding wages have led to economic growth.
The expected target for tourists in 2020 is 20 million, but this was achieved in 2016 due to the easing of visa restrictions. The weakened yen has also encouraged visitors to spend 3.7 trillion yen (S$50 billion) in popular destinations such as Tokyo, Osaka, Sapporo and Okinawa.
Junko Ogushi, senior partner from Atsumi & Sakai, Japan presented on real estate law and tax regulations in owning property in Japan. “PropertyGuru provides an opportunity for investors to know what is happening in Japan, hence making it a good platform for investors to directly interact with the developer and industry experts,” she said.
Separately, Cijay Tew, associate branch district director from PropNex Realty, shared his knowledge on property monetisation methods for local and overseas properties.
The exclusive show showcased the UENO VASTO VARDE XEBEC NIPPORI II residential project.
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