Real Estate Brokerage Market for Individuals in Japan: Key Research Findings 2023

Both Real Estate Brokerage Markets for Rent and Sales Geared to Individuals Showed Stable Growth, Especially in Urban Areas with Working and Residential Locations in Close Proximity

Yano Research Institute (the President, Takashi Mizukoshi) has studied the real estate brokerage market for individuals in Japan and has found out the business trends for real estate brokerage (rent and sales), trend of market players, and future perspectives.

Summary of Research Findings

As the corona pandemic subsided, the real estate sales brokerage market (for residential housing) for FY2022 showed a return of an urban recurrence from once boomed relocations to suburban areas or local cities when workstyle diversified, allowing people to work at home or at remote places amid the corona crisis. The soaring prices have not only applied to newly built houses and condominiums but also to existing houses and condominiums distributed that are the core items dealt in at real estate brokerage market. The tendency is especially strong in the urban areas where working and residential areas are in a proximity.

There has been no dramatic change in the real estate leasing brokerage market for individuals (for residential housing) between before and after the corona crisis. Though diversified working styles temporarily sparked some topics on relocations to suburbs or to local regions, the impact was not as large as to alter the supply and demand structure. As conventionally, urban areas that cause influx of population show robust demand for properties for rent, which can expect relocations by households that hope to be able to work either at home or office by living in a propinquity to working and living environment.

Noteworthy Topics

Quickness Required for Accurate Information and for Responding to Customer Reactions

It can be said both for leasing and sales of real estate brokerage business that, while it has become common for sending information by businesses and collecting information by consumers to be taken place on the internet, it is indispensable for real estate brokers to react fast for understanding the appropriate information that consumers want and for providing it in timely manner.
Just like it has been usual from before, swiftness is required when providing accurate information or when responding to the reactions by customers. There are many systems to automate the responses to customers, but the sources of real estate database are the information collected by each of real estate brokers, and it is them that utilize such information.
For consumers who can collect vast amount of information, how the brokers acquire them as customers depends on the quickness to provide unique information available by each broker.

Research Outline

1.Research Period: April to August 2023
2.Research Object: Real estate brokers (for rent or sale)
3.Research Methogology: Face-to-face interviews (including online) by expert researchers, survey via phone/email, and literature research

Real Estate Brokerage Market

The real estate brokerage market in this research covers the real estate leasing brokerage business geared to individuals for residential housing, and the real estate sales brokerage business for individuals.
Real estate brokerage businesses between corporations and for building tenants, etc. are not included.

<Products and Services in the Market>

Real estate leasing and sales brokerage for individuals (for residential housing)

Published Report

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