Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Property Foreign buyers slam brakes on Japanese real estate deals China slowdown seen contributing to 34% drop in transactions Tokyo waterfront condominium towers like these had been popular with Chinese investors. (Photo by Kazuya Hiruta)
TAIZO WADA, Nikkei staff writer January 27, 2019 02:30 JST | Japan
TOKYO -- Japan's once-buoyant real estate market has seen a sharp pullback in foreign buying, sending property deals falling by a third in the second half of 2018.
Property transactions declined 34% on the year to a six-year low of 1.72 trillion yen ($15.78 billion) in the six months ended December, according to the Tokyo-based Urban Research Institute.
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