AXA Real Estate sees Japan office property prices nearing peak

Tokyo

AXA Real Estate, the world's fifth-largest property fund, is increasingly concerned that Japanese property prices are nearing their highs.

"I can see the top of the mountain," said Tetsuya Karasawa, head at AXA Real Estate Investment Managers Japan KK, speaking about commercial real estate prices. "The question is do we have some way to go or we are already at the top?"