After the global financial crisis hit in 2008, multifamily residential proved to be one of the most resilient sectors during the downturn. Now, with the global coronavirus pandemic, multifamily is once again poised to perform well through the current crisis and beyond.

Asia Pacific Outlook 2020: Real Estate During a Crisis, from PGIM Real Estate, singles out Japanese residential as a rare bright spot for investors in these volatile times. “The Japanese residential sector offers stable cashflow in an uncertain environment and benefits from a favourable supply-demand outlook,” according to the report. “The Japanese residential market is arguably one of the most resilient sectors in the region in the near term.”

While Japan’s overall population is falling, the population in Tokyo, Osaka and other urban centres continues to rise because of working-age people and students migrating to major cities for education and employment opportunities. “This trend