6th Survey on Real Estate Investment Sentiment ~Driven by a Strong Sense of Soaring Prices, the Momentum for Condominium Units Rekindles~
Global Link Management has announced the results of its 6th 'Survey on Real Estate Investment Sentiment.' Amidst a strong sense of soaring property prices, interest in condominium units is rekindling. While overall investment interest is declining, real estate investment is seeing a recovery among young and high-income demographics.
📋 Article Processing Timeline
- 📰 Published: April 30, 2026 at 19:30
- 🔍 Collected: April 30, 2026 at 11:01
- 🤖 AI Analyzed: April 30, 2026 at 11:59 (57 min after Collected)
Global Link Management Co., Ltd., headquartered in Shibuya-ku, Tokyo, which provides real estate to domestic and international asset management companies, established the 'Global Urban Real Estate Research Institute' (hereinafter, 'the Institute') on January 1, 2019. The Institute, headed by Meiji University Emeritus Professor Hiroo Ichikawa, aims to (1) analyze the city of Tokyo and disseminate its appeal globally, and (2) develop new real estate-centric services.
### 【01】General Consumer Interest in Investment and Real Estate Investment
- 'Interested in investment' at 43.3%, showing a decline from a 2024 peak, but high-income earners remain highly engaged.
- Interest in real estate investment recovers to the 37% range; investment costs are acceptable even among younger demographics.
Comparing Real Estate Investment Sentiment Over Time
The Global Urban Real Estate Research Institute conducted a survey targeting approximately 23,000 individuals in Japan aged 20-60 regarding their interest in investment and real estate investment, and another survey targeting 400 real estate investors regarding their investment goals and intentions.
The Institute has been conducting similar surveys annually since 2021, and this marks the sixth edition. In addition to traditional year-on-year comparisons, this survey newly inquired about impressions of property price trends in areas where real estate is owned, and the impact of regulations on foreign real estate acquisition.
#### ①【General】Interest in Investment
Interest in Investment Continues to Decline, but High-Income Earners Remain Enthusiastic
When asked about their interest in investment, 'no interest at all' (26.7%) slightly surpassed 'somewhat interested' (25.4%), similar to the previous survey. The 'interested' group, combining 'very interested' and 'somewhat interested,' stood at 43.3% (down 1.3 points from the previous survey), the second lowest after 2021 (41.4%), and has been declining since peaking in 2024. By attribute, similar to past results, men and those with higher incomes tend to have stronger interest in investment. This time, among those with an annual income of 20 million yen or more, 'very interested' was 48.7% (up 11.2 points from the previous survey), highlighting the enthusiasm of high-income earners amidst a general moderation of investment appetite. Additionally, a slight increase in 'very interested' was observed among those with an annual income of less than 5 to 7 million yen and those in their 30s, demographics where future growth in disposable income is expected.
#### ②【General】Interest in Real Estate Investment
Experience and Interest in Real Estate Investment: Has the Slump Bottomed Out?
When asked about their actions and interest in real estate investment, 1.5% replied, 'currently living mainly on real estate investment income,' 3.3% said, 'managing real estate investment as a side business,' 4.1% had 'attended seminars or briefings due to interest,' and 28.7% stated, 'interested but have not taken action.' As all of the aforementioned groups slightly increased, the proportion of those with at least some interest is 37.6% (of which, approximately 5% are actually engaged in real estate investment), showing a rebound and increase from the previous survey's record low. Additionally, 'no interest at all' decreased by 1.6 points from the previous survey, falling below 40%.
By attribute, younger generations and higher-income earners show a higher proportion of having at least some interest. Compared to the previous survey, the decrease in 'interested but have not taken action' and 'no interest at all' was larger among those in their 30s and younger.
While overall interest in investment is waning, there are signs of 'polarization' with increasing interest in real estate investment, especially among younger and high-income demographics, and a growing number of people beginning information gathering and serious consideration.
#### ③【General】Reasons for Not Investing in Real Estate
Declining Interest in Investment Itself, but Cost Barrier Lessens
Focusing on those who are not actively engaged in real estate investment, we asked for the primary reason for not doing so. 'No interest in investment itself' was 32.1% (up 2.6 points from the previous survey), surpassing 'high investment costs (no savings for investment)' (30.0%, down 2.4 points), which had been number one since 2022. The third-ranked item, 'lack of knowledge about real estate, finding it difficult' (10.8%), and subsequent items showed less than 1 point change in increase or decrease, with no significant changes in rank or proportion. However, 'risk of asset value or rent declining' was 7.9%, the lowest in the past six years.
While a decline in the desire for investment itself is notable, the cost barrier seems to be somewhat alleviating. Additionally, the uncertainty of the international geopolitical and economic environment, historical yen depreciation, and political/economic turmoil, as well as central urban areas.
### 【01】General Consumer Interest in Investment and Real Estate Investment
- 'Interested in investment' at 43.3%, showing a decline from a 2024 peak, but high-income earners remain highly engaged.
- Interest in real estate investment recovers to the 37% range; investment costs are acceptable even among younger demographics.
Comparing Real Estate Investment Sentiment Over Time
The Global Urban Real Estate Research Institute conducted a survey targeting approximately 23,000 individuals in Japan aged 20-60 regarding their interest in investment and real estate investment, and another survey targeting 400 real estate investors regarding their investment goals and intentions.
The Institute has been conducting similar surveys annually since 2021, and this marks the sixth edition. In addition to traditional year-on-year comparisons, this survey newly inquired about impressions of property price trends in areas where real estate is owned, and the impact of regulations on foreign real estate acquisition.
#### ①【General】Interest in Investment
Interest in Investment Continues to Decline, but High-Income Earners Remain Enthusiastic
When asked about their interest in investment, 'no interest at all' (26.7%) slightly surpassed 'somewhat interested' (25.4%), similar to the previous survey. The 'interested' group, combining 'very interested' and 'somewhat interested,' stood at 43.3% (down 1.3 points from the previous survey), the second lowest after 2021 (41.4%), and has been declining since peaking in 2024. By attribute, similar to past results, men and those with higher incomes tend to have stronger interest in investment. This time, among those with an annual income of 20 million yen or more, 'very interested' was 48.7% (up 11.2 points from the previous survey), highlighting the enthusiasm of high-income earners amidst a general moderation of investment appetite. Additionally, a slight increase in 'very interested' was observed among those with an annual income of less than 5 to 7 million yen and those in their 30s, demographics where future growth in disposable income is expected.
#### ②【General】Interest in Real Estate Investment
Experience and Interest in Real Estate Investment: Has the Slump Bottomed Out?
When asked about their actions and interest in real estate investment, 1.5% replied, 'currently living mainly on real estate investment income,' 3.3% said, 'managing real estate investment as a side business,' 4.1% had 'attended seminars or briefings due to interest,' and 28.7% stated, 'interested but have not taken action.' As all of the aforementioned groups slightly increased, the proportion of those with at least some interest is 37.6% (of which, approximately 5% are actually engaged in real estate investment), showing a rebound and increase from the previous survey's record low. Additionally, 'no interest at all' decreased by 1.6 points from the previous survey, falling below 40%.
By attribute, younger generations and higher-income earners show a higher proportion of having at least some interest. Compared to the previous survey, the decrease in 'interested but have not taken action' and 'no interest at all' was larger among those in their 30s and younger.
While overall interest in investment is waning, there are signs of 'polarization' with increasing interest in real estate investment, especially among younger and high-income demographics, and a growing number of people beginning information gathering and serious consideration.
#### ③【General】Reasons for Not Investing in Real Estate
Declining Interest in Investment Itself, but Cost Barrier Lessens
Focusing on those who are not actively engaged in real estate investment, we asked for the primary reason for not doing so. 'No interest in investment itself' was 32.1% (up 2.6 points from the previous survey), surpassing 'high investment costs (no savings for investment)' (30.0%, down 2.4 points), which had been number one since 2022. The third-ranked item, 'lack of knowledge about real estate, finding it difficult' (10.8%), and subsequent items showed less than 1 point change in increase or decrease, with no significant changes in rank or proportion. However, 'risk of asset value or rent declining' was 7.9%, the lowest in the past six years.
While a decline in the desire for investment itself is notable, the cost barrier seems to be somewhat alleviating. Additionally, the uncertainty of the international geopolitical and economic environment, historical yen depreciation, and political/economic turmoil, as well as central urban areas.