West Meets East: Japan Develops Professional Property Management. (Pass Port)

By Sadamura, Sam Y. | Journal of Property Management, July-August 2002 | Go to article overview

West Meets East: Japan Develops Professional Property Management. (Pass Port)


Sadamura, Sam Y., Journal of Property Management


In Japan, real estate has a long and I rich history. Real estate leases existed as far back as the 8th Century, yet, as an industry property management is relatively new, having only been around for 25 years.

Following the financial "big bang" in the early 1990s, Japan pursued global standards for all industries. As a result, in 2000 the property management industry came into being seemingly overnight. Japanese property prices continued to increase until recently when the trend reversed. The general consensus was real estate property would appreciate without the help of professional managers. It was thought if prices did not improve, it was due to specific market conditions, not the management of the property.

Ultimately, the bubble economy collapsed and property prices shifted downward. Under such business conditions, income-reversed-price was advocated to give more weight to the income potential of property management that was aided by the creation of the fixed-term building lease and the deregulation of REIT law. As a result, the importance of property management became apparent. Now, most Japanese real estate businesses believe property management plays an important role in the performance of an asset.

There are no property managers except for a rare few employed at foreign real estate management companies or companies specializing in large commercial properties.

Thus, the Japan Real Estate Management and Human Resources Development Association (JREM), in cooperation with IREM [R], is beginning to develop a formal property management program.

The future of real estate in Japan looks bright. Tokyo is expected to enjoy a healthy office construction boom by 2005. Construction of office skyscrapers will be completed in such areas as those surrounding the Shinagawa station, the old JR marshalling yard and Minaro-ku. Just as in New York, a substantial, albeit temporary, drop in occupancy rates is expected. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

West Meets East: Japan Develops Professional Property Management. (Pass Port)
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.