| Budget Amount *help |
¥5,460,000 (Direct Cost: ¥4,200,000、Indirect Cost: ¥1,260,000)
Fiscal Year 2014: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2013: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2012: ¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
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| Outline of Final Research Achievements |
The real estate securitization market in Japan started in 1997. Now, J-REITs market size has been grown next to the United States. When you do a global real estate investment, you cannot ignore the Japanese market now.
But the players in Japanese real estate market recognize that the real estate is important not to invest but own. So almost of all real estate development companies are still now continuing to magnify their balance sheets. It does not fit to the global standard business model in real estate development companies. There is a wide gap between financial market players and real estate market players. It became clear that this gap makes very unique real estate investment market and business models among advanced capitalistic countries.
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