As has been well documented, real estate became the asset class of choice following the global financial crisis. With interest rates at historic lows across developed economies and government bonds offering little more than safe-haven status, investors have ploughed capital into property.

The consequence is effective strategies have become ever harder to pin down, with more money chasing fewer genuinely lucrative plays. Japan’s multifamily sector, however, presents an opportunity. Here’s why.

Japan’s economy is nothing if not modern, having been at the forefront of technological innovation for decades. Moreover, the country remains a manufacturing powerhouse. A lack of natural resources means Japan has long focused its attention on the last stages of the manufacturing process, something that is evident in its top imports (largely raw materials) and exports (finished goods).

The Pacific Century

It is also clear Japan is embracing the