Tokyo property boom lifts bond sales by Reits

Tokyo beats Paris to become world's third most-active real estate market

[TOKYO] The strongest bond sales in three years by real estate investment trusts are showing confidence in the property revival sparked by Prime Minister Shinzo Abe.

Reit sales jumped 33 per cent this year to 95.8 billion yen (S$1.2 billion), outpacing the 5.9 per cent increase in Japanese corporate issuance and the 2.2 per cent climb for that in the US, according to data compiled by Bloomberg.

Japan Excellent Inc, whose properties house units of Toshiba Corp and Fujitsu Ltd, raised five billion yen of 0.46 per cent debt last week due 2018 at a five basis point yield premium over the yen swap rate, down from the 48 it paid in 2011.

Tokyo beat Paris to become the world's third most-active real estate...

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