TOKYO -- The international investors who had driven Japan's office building market are on track to become net sellers for the first time in four years in 2023, as falling rents and rising interest rates dim its appeal.
In the first nine months of 2023, foreign investors' sales of Japanese real estate more than doubled on the year to 1.05 trillion yen ($7.1 billion) while their purchases fell about 20% to 830 billion yen, according to real estate services company CBRE. If these trends hold, it would mark the first full year of net selling since 2019.
