Early Monday morning in Asia saw Nikkei Asia came out with the news suggesting the doubling of Goldman Sachs property investment into Japan moving forward.
Goldman Sachs will increase its property investments in Japan to about 250 billion yen (US$2.28 billion) a year from the current range of 100 billion to 150 billion yen, with a focus on logistics hub, data centers, and other facilities that enjoy growing demand said the news.
The report also quotes data from Jones Lang LaSalle to confirm that overseas investors poured about 1.5 trillion yen into the Japanese property market in 2020. It was also mentioned that the overseas investors accounted for more than 30% of all real estate deals by value in the country, the highest percentage since the record marked in 2007.
Ultra-low interest rates were cited as the reason behind Goldman’s push towards Japanese properties.