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A Yen for Real Estate

Japanese Real Estate Investment Abroad – From Boom to Bust Roger Farrell, Centre Associate, Australia–Japan Research Centre, College of Asia and the Pacific, The Australian National University
What this book achieves is an understanding of the speed of the advance and the retreat of Japanese real estate FDI. The author also explains its principal causes as well as its impact on host economies and communities. It will be an important new reference source for political economists and international business scholars as well as for scholars of Japanese studies.
Extent: 288 pp
Hardback Price: $155.00 Web: $139.50
Publication Date: 2000
ISBN: 978 1 84064 257 5
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  • Asian Studies
  • Asian Business
  • Business and Management
  • Asia Business
  • International Business
Japanese overseas investment in real estate has been little analysed, until now, despite its economic scale and political impact. This unique book explores the political economy of Japanese foreign direct investment in real estate in the United States, Australia and other countries from the mid-1980s onwards.

In the period between 1985 and 1994, there was a remarkable rise and decline in Japanese real estate investment abroad. The author explains that this experience was important because real estate investment became a focal point of international tension between Japan and other countries.

What this book achieves is an understanding of the speed of the advance and the retreat of Japanese real estate FDI. The author also explains its principal causes as well as its impact on host economies and communities. It will be an important new reference source for political economists and international business scholars as well as for scholars of Japanese studies.
‘After reading this book . . . readers will certainly gain a great amount of knowledge on the subject . . . this book certainly makes a significant contribution to our understanding of Japanese foreign investment in real estate in the 1980s and early 1990s. It is an indispensable source of information and insights for diligent students of the subject.’
– Masahiro Igarashi, Transnational Corporations

‘Farrell deepens our understanding by presenting well-organized empirical research.’
– Mariko Fujii, Journal of Japanese Studies

‘This is essential reading for understanding the phenomenon of the “bubble economy”. Roger Farrell reveals all about the motivations, strategies and trends in Japanese real estate investment during the investment boom of the late 1980s and early 1990s. He cuts through the hype and gets to the essence of the problem: an absence of strategy and control, and lack of experience on the part of the investors, loose regulatory environments and the openness of the key target markets. It is a cautionary tale, well told.’
– Alan Rix, University of Queensland, Australia

‘Farrell’s is the first comprehensive study. . . . It provides a detailed record of what happened and the costs of what happened. It will be invaluable to those in the business and also to those trying to understand Japan’s economic policy problems and challenges today.’
– Peter Drysdale, Australian National University, Australia
Contents: 1. The Emergence of Japanese Investment in Overseas Real Estate 2. Motivations and Determinants 3. Patterns of Investment 4. Organisation of Investment 5. Investor Motivations 6. Investor Strategies 7. Financial Determinants 8. Locational Determinants 9. The Regulatory Environment 10. Conclusion References Index