Friday, September 09, 2005

In Japan, real estate hangs on to gains

Investors are sitting up and taking notice of the nascent real estate recovery in Japan. The Big Three property stocks are being bought up.
Office vacancies in Tokyo fell to their lowest in three and a half years in August, said Miki Shoji, a privately held office brokerage company.
"We expect to see some acceleration in recovery in areas like downtown Tokyo," says Standard Life Investments in Edinburgh. which has a higher proportion of shares in real estate companies than the benchmark index. Mitsui Fudosan is the firm's top pick, and it also holds Daibiru, NTT Urban Development and Sankei Building.

Full Story -
IHT: In Japan, real estate hangs on to gains

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