New Patterns of Property Investment in " Post-Bubble " Tokyo
Les nouvelles formes de l'investissement immobilier dans l'après-bulle à Tokyo
Résumé
This chapter focuses on the change in the status of land in Tokyo’s
real estate economy under the influence of real estate securitization. The
main argument is that the development of REITs, against a background
of demographic shrinkage and sluggish land prices, has put an end to
the use of land as a “quasi-financial” asset that characterized the golden
age of the developmental state. With the (re)embedment of land in the
economy of urban development, investment strategies in the Japanese
property industry are shifting from an exclusive focus on land to a more
conventional conception of real estate.
Origine : Accord explicite pour ce dépôt
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