Japan Real Estate Report Q3 2011
Business Monitor International, June 2011, Pages: 57
Business Monitor International's Japan Real Estate Report provides industry professionals and strategists, corporate analysts, real estate associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Japan's Real Estate industry.
The earthquake and subsequent tsunami that ravaged Japan’s seaboard in March wreaked havoc on the real estate sector. New research claims that the damage from the Japanese earthquake has affected around US$700bn worth of insured property, according to the Wall Street Journal. The tsunami also hit areas with an estimated US$24bn-worth of insured property.
This comes on top of existing and well-known structural problems in the sector, with the government under pressure to rein in its massive debt. These long-term problems led to an average land price decrease of 3% in 2010, following a drop of 4.6% the previous year. The improvement was due to recovering demand in the real estate market, which saw Japanese real estate investment trusts (REITs) double their acquisitions during the year. This is likely to be reversed as investors hang back in the wake of the earthquake and tsunami – and subsequent slump in consumer and business confidence. Vacancy rates have already risen to 9.2% and 12.4% in Tokyo and Osaka respectively, from 9.1% and 11.9% in February. Hiring demand at regional offices outside Tokyo has also picked up since the earthquake.
Despite the gloomy outlook for the sector there is some positive news in the government announcement that it will build 100,000 new temporary homes. The developments will house those evacuated from their homes due to the tsunami and earthquake and are expected to cost US$50bn.
Executive Summary
SWOT Analysis
- Japan Real Estate/Construction SWOT
- Japan Economic SWOT
- Japan Business Environment SWOT
Real Estate Market Overview
- Table: Japan’s Real Estate Market – Rents, 2009 And 2010 (m2/month, US$)
- Table: Japan’s Real Estate Market – Net Yields, 2010 And 2011 (%)
- Table: Japan’s Real Estate Market – Terms Of Contract/Lease
- Table: Japan’s Real Estate Market – Available And Vacant Space (m2 unless otherwise stated)
Industry Forecast Scenario
- Real Estate Outlook
- Table: Japan’s Real Estate Market – Rentals, 2010-2012 (m²/month, US$)
- Table: Japan’s Real Estate Market – Forecast Yield, 2008-2015 (%)
Construction Industry Outlook
- Table: Japan Construction And Infrastructure Industry Data
- Table: Japan Construction And Infrastructure Industry Data
Macroeconomic Outlook
- Table: Japan – Economic Activity, 2008-2015
Business Environment
- Real Estate/Construction Business Environment Rating
- Table: Asia Real Estate/Construction Business Environment Ratings
- Japan’s RECBER
Japan’s Business Environment
- Table: BMI Business And Operation Risk Ratings
- Table: BMI Legal Framework Rating
- Table: Labour Force Quality
- Table: Asia, Annual FDI Inflows
- Table: Trade And Investment Ratings
- Table: Top Export Destinations
Competitive Landscape
Company Profiles
- Kajima Corporation
- Kumagai Gumi
- Obayashi Corporation
- Sanyu Construction
- Sekisui House
- Shimizu Corporation
- Sumitomo Real Estate Sales
BMI Methodology
- How We Generate Our Industry Forecasts
- Construction Industry
- Bank Lending
- Real Estate/Construction Business Environment Rating
- Table: Weighting Of Indicators
- Project Finance Ratings Indicators
- Table: Design And Construction Phase
- Table: Commissioning And Operating Phase – Commercial Construction
- Table: Commissioning And Operating Phase – Energy And Utilities
- Table: Commissioning And Operating Phase – Transport
- Sources
- Kajima Corporation
- Kumagai Gumi
- Obayashi Corporation
- Sanyu Construction
- Sekisui House
- Shimizu Corporation
- Sumitomo Real Estate Sales
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