Wealth funds turning to Tokyo property as land prices continue to rise
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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