• A record high percentage of investors anticipate their investment volume to exceed that of the previous year.
  • Tokyo was named as the number one city for cross-border investment for the second consecutive year, with Osaka also ranking in the top 10.
  • While North America remains the top investment market for Japanese investors, interest in Asian markets is on the rise.


  • “Core” and “distressed” assets are preferred.
  • Targeted returns for core assets remain unchanged.
  • The logistics sector has surpassed office buildings as the major investment target.
  • Transaction prices for logistics facilities to remain stable or even increase.


  • Japan currently stands below Asia-Pacific standards for the implementation of ESG criteria.
  • However, majority of investors are planning or considering the adoption of ESG criteria, and are aiming for higher ESG investment as a % of total AUM.