Asian investors have been buyers of real estate on a global scale for more than five years, and the trend only looks set to continue. But they are changing their tune in terms of what they are seeking when they talk to property fund managers, investment advisers and the brokers that help them invest directly

Two years have passed since CBRE Global Investors’ country manager, Tetsuya Fujita, published, “Cycling on: Japan’s real estate market is poised at the start of a cyclical upswing,” in the October 2012 edition of The Letter – Asia Pacific.CBRE Global Investors’ market analysis and forecasts were included in that Market Perspective, and we now have a chance to revisit the accuracy of the original piece and provide insight on where we are currently placed in the cycle.

For institutional real estate investors and money managers, the second half of the decade promises to be busy — and probably more lucrative — as additional trillions of dollars are channelled into investment-worthy property.

With the latest GDP growth projections for Japan as low as 0.9 percent for 2014 and 1.1 percent for 2015 — far behind the United States’ 2.1 percent and 3.1 percent projections for 2014 and 2015, respectively — the Organisation for Economic Cooperation & Development has recommended a continuation of the nation’s quantitative easing.