Q&A: When will the Japanese make their move?

Shigeki Nakajima, head of the Japanese desk in Savills’ capital markets team

According to preliminary RCA data for 2017, a total of ¥3.826tn (£24.9bn) was transacted in Japan’s property market last year.

This marked a decline in year-on-year volumes, but overseas buyers were slightly more active. By and large, however, Japan is still dominated by domestic investors.

The drop in volumes last year can be attributed to the comparative lack of domestic, large-scale, core investment opportunities – not a lack of appetite.

Some domestic investors are more likely to move up the risk curve, but