Japan: market capitalization of the REIT market 2001-2024| ��ƽ��

Market capitalization of the real estate investment trust (REIT) market in Japan from 2001 to 2024 (in trillion Japanese yen)

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Release date

February 2025

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Region

Japan

Survey time period

2001 to 2024

Special properties

as of December each year

Supplementary notes

100 Japanese yen equal 0.64 U.S. dollars or 0.63 euros as of February 2025.

Values have been rounded.

Citation formats

As of the end of 2024, the market capitalization of the Japanese real estate investment trust (J-REIT) market amounted to around **** trillion Japanese yen. The figure decreased from **** trillion yen in the previous year.

What is a REIT?

Real estate investment trusts are investment vehicles that acquire income-producing real estate and distribute ** percent or more of the profits generated to investors. In this way, they allow individuals to invest in large-scale commercial properties without owning them themselves. REITs own a variety of properties, from multifamily residences to logistics facilities. Some specialize in a particular sector, while others have a mixed portfolio. REITs were first introduced in the United States in the 1960s. The first Japanese REIT was listed much later in 2001. Since then, the Japanese REIT market has gradually expanded to become one of the largest in the world in terms of market capitalization.

The REIT market in Japan

Publicly traded REITs in Japan are known under the term J-REITs. Around 57 of them were listed on the Tokyo Stock Exchange in 2024. In addition, there is a growing number of privately placed REITs primarily aimed at institutional investors.
J-REITs held over *** thousand properties in 2024. Offices accounted for ** percent of their portfolio based on the acquisition value. The majority of REIT properties were located in Japan’s capital Tokyo and the surrounding metropolitan region.