Real estate deals in Japan are said to be up for the first three months of 2009, with many of the transactions taking place in areas such as Tokyo, Nagoya, Osaka and Fukuoka. Many of the property buying is being done by foreign investors. In particular, the Chinese appear to be keen to snap up Japanese property bargains.

Although the main driver of the Japanese housing market are large firms – who are also starting to look to buy and are attempting to negotiate for many properties on the market – the number of individuals, both foreign and domestic, who are showing an interest in the Japanese market is starting to rise.

For any foreign property investors looking to buy real estate in Japan, it is advisable to look to the major cities and towns. Commercial land properties in Japan dropped 4.7% to a three-year low in 2008 with the three major areas of Tokyo, Osaka and Nagoya taking a bigger hit of 5.4%. As this decline has now slowed, these are the areas which are likely to spring back first. In the long-term, property prices will probably show the best growth with rental prices being strong thanks to their status as cities.

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