No correction in sight for Japan's property market: analysts

Tokyo

SOME 30 years ago, Japan was in the middle of a massive property price and stock market bubble which most commentators failed to see coming until it burst. Now, some of those people are going overboard in issuing strident warnings of a new bubble even before it has begun to inflate.

Much the same could be said about China's property market bubble which is likewise attacked regularly by commentators who liken it to Japan's original 1980s bubble economy, apparently without close examination of the causes and effects in either case.

Bloomberg claimed in a report on June 8 that "land prices in Tokyo's central Chuo ward, home to the famous Ginza shoppin…