Global financial services firm, StormHarbour Partners, has announced plans to expand property investments in Japan to meet rising demand from investors overseas. In Japan, StormHarbour Japan Ltd., will invest in buildings which are reported to be worth about 10 billion yen each. This was confirmed by Michimasa Naka, head of the Japan office of the financial firm.
Naka says in an interview in Tokyo that many investors are seeking returns in Japan because of the recovery seen in the real estate market. In fact, property investments in major cities in the country offer as much as 6% yield while those in the countryside offer as much as 10%.
Mitsubishi Estate Co., and Sparx Group Co., already announced plans to venture into private real estate investment trust. Mitsubishi was able to raise 11.2 billion yen to purchase properties in Tokyo for its REIT while Sparx started a property fund with the help of a sovereign wealth fund from the Middle East.
Naka, who was also head of global investor sales of Citigroup Global Markets Japan Inc., also adds that investments in Tokyo and Fukuoka remain the most popular because of its location and accessibility to the rest of the countries in Asia. Aside from this, financing for property transactions are becoming a trend, pulling more investors in. He adds that the company?s Tokyo office has been struggling to match the success of its overseas counterparts by expanding their offers, going beyond basic financial services and products.
Tokyo Apartments For Sale | Tokyo Apartments For Rent | Real Estate Japan
Source: http://www.realestate.co.jp/2012/10/22/stormharbour-targets-real-estate-investments-in-japan/
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