With the Olympics in the rear-view mirror and the much-maligned vaccination programme continuing, how are Japan’s economy and real estate markets poised, moving forward?

The country’s economy grew slightly in the second quarter of 2021, as private consumption recovered slowly. The world’s third-largest economy has struggled to recover from this past year’s COVID-19-related downturn, and repeated state of emergency declarations in Tokyo and other cities have limited consumer spending in restaurants and stores.

During the second quarter of 2021, private consumption came in stronger than expected, with 0.8 percent growth following a 1.5 percent decline in the first quarter. Consumer spending, a key factor in the Japanese economy, accounted for 54.5 percent of GDP. With the current state of emergency for Tokyo and surrounding areas extended through 30 September, economists warn of the risk of contraction in the third quarter, as the government is considering strong