Wealth funds turning to Tokyo property as land prices continue to rise
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Tokyo
GLOBAL wealth funds are moving to buy more Tokyo properties to take advantage of rising prices in the Japanese capital, one of the highest-ranking officials at the land ministry said.
"Long-term pension funds in the US and Europe, particularly in Scandinavia, are looking to lift their positions" in Japanese real estate, Kisaburo Ishii, a vice minister at the ministry, said on March 30. "They have been underweight Japanese real estate."
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