Japanese real-estate shares may tumble as much as 30 percent over six months after the government confirmed plans to raise the sales tax, damping demand for home purchases, according to Deutsche Bank AG.
Japanese real estate investment trusts are set to double the amount of capital they raise through share sales this year, spurring a recovery in the nation’s real estate market, according to Deutsche Bank AG.
Nomura Real Estate Master Fund Inc., Japan’s largest initial public offering this year, slid in its debut as the investment trust run by a unit of the nation’s biggest brokerage tracked a drop in the market.
Japanese stocks are the biggest winners in the world this year. The yen is down the most of any major currency, helping exporters. And as Prime Minister Shinzo Abe’s efforts to stoke the economy take tentative hold, Japan’s commercial property market is coming back to life.
Kenedix Residential Investment Corp., the first Japanese real estate investment trust to sell shares in more than four years, fell on the first day of trading in Tokyo on concerns that its property holdings are too small.