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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)

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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