COMPANIES Just two years since real estate prices reversed a 15-year slide, Japan’s property market is again in the throes of a disruptive downturn.
With an exodus of foreign investors in the property market and Japanese banks cutting back drastically on lending, liquidity has dried up. Hardly a week goes by without news of the demise of another property developer or construction company, two sectors that have topped the league of bankruptcies in 2008.
