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Industries & Specialties

Living

A full-lifecycle platform for maximum value
woman inside apartment
 

The living sector is evolving fast, shaped by a rapid evolution in demographic trends, lifestyle demands and investor appetite.

The Living sector covers all residential investment assets, from student housing to build-to-rent communities. In Japan, this area is shaped by population shifts, government policy, and growing interest from investors. An aging population, more people moving to the country, and tight urban housing are changing how we look at residential properties. Our team provides valuation, advisory, and capital markets services for every stage of an asset's life, using our own data and local connections. Use our market knowledge to sharpen your strategy.

What Sets Us Apart

Full Lifecycle Expertise

We advise at every stage of an asset's life, from site selection and feasibility to lease-up, management, and sale. In Japan, where market entry requires precise timing, our end-to-end perspective aligns your strategy with long-term returns.

Living Sector Specialists

Our team focuses exclusively on Living assets, including purpose built student accommodation (PBSA), build-to-rent (BTR), senior living, and co-living. This dedicated expertise means sharper underwriting, faster pattern recognition, and strategies grounded in how these specific markets actually move.

Data-Led, Human-Centered

We combine proprietary research and demographic analysis with a practical understanding of what residents and operators need. This balance of quantitative rigor and market empathy drives better asset positioning across the country’s diverse local markets.

Invested in Performance

Every recommendation, from underwriting to exit, is grounded in asset economics. The Living sector in Japan rewards disciplined capital allocation, and our advisory work is built to support the stable, performance-oriented returns institutional investors require.

Sustainability in Practice

ESG is now a baseline for institutional Living assets. We help clients embed sustainability into design, operations, and reporting to ensure portfolios remain competitive for capital and attractive to residents over the long term.

Services

Our Services



Valuation & Advisory


Precise valuations are essential. We provide financial reporting valuations, acquisition appraisals, development feasibility studies, and rental analyses for all Living sector assets, backed by deep market data and local expertise.

Learn more about our Valuations

Capital Markets


Accessing the right capital is key. We connect investors, developers, and operators with domestic and international capital sources, structuring transactions that align with the specific risk and return profiles of each sub-sector.

Learn more about our Capital Markets

Strategic Advisory & Consulting


We provide strategic clarity on market entry, portfolio strategy, and development feasibility. Our guidance helps clients navigate Japan's unique regulatory landscape, from opportunity identification to successful execution.

Project & Development Services


We help clients achieve their Living real estate goals by integrating expertise across project management, building consultancy, cost consultancy, building engineering, and sustainability. Our specialists provide end-to-end support, from design to construction, ensuring value-driven, risk-managed solutions.

Learn more about our Project & Development Services

Research & Market Intelligence


Our research platform offers sector-specific analysis on rental, senior living, and student accommodation trends. We provide the intelligence clients need to underwrite opportunities, benchmark performance, and anticipate market shifts.

Specialisation

Industry Expertise



Build-to-Rent (BTR) / Rental Residential


Japan's mature rental market is still evolving. Demand for high-quality, professionally managed properties in cities like Tokyo and Osaka is strong. We advise clients on site acquisition, feasibility, capital structuring, and disposition for this stable, income-producing asset class.

Purpose Built Student Accommodation (PBSA)


The push to attract international students is increasing demand for modern student housing. We advise on acquisition, valuation, and portfolio strategy, using our insights into demand trends in major university cities to guide clients.

Senior Living & Healthcare


An aging population drives demand for senior living and healthcare real estate, but supply is limited. We advise on development, valuation, and capital strategy for assets ranging from active senior communities to nursing homes.

Co-Living


Changing lifestyles and urbanization are making co-living popular in cities like Tokyo. We advise on feasibility, valuation, and operational models for this emerging asset class, which caters to young professionals and mobile workers.

Team

Nobuhiro-Maruyama
Nobuhiro Maruyama

Executive Director, Head of Investment Sales
Chiyoda-ku, Japan

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Hiroyuki-Takayama_Headshot_Japan
Hiroyuki Takayama

Senior Director
Chiyoda-ku, Japan

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Stephen Higgins
Stephen Higgins

Director, International Transactions
Chiyoda-ku, Japan

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Contact Us

Research

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How the Middle East Conflict Is Shaping Asia Pacific’s Economy and Commercial Real Estate

The Middle East conflict has now persisted long enough that economic impacts are beginning to emerge.
Dominic Brown • 01/04/2026
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Research • Economy

Trump 2.0 The First 100 Days Implications for the Economy & Property

Trump 2.0—The First 100 Days explores the early economic and commercial real estate implications of President Trump’s 2025 policy agenda.
Rebecca Rockey • 30/04/2025
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Insights • Economy

Tariffs and the Impact on Asia Pacific

As it stands today (early-March 2025), President Trump has imposed a circa 20% tariff on all Chinese goods imported to the U.S. This is on top of the roughly 10% that was already in place under Trump’s first term and continued by the Biden Administration. 
Kevin Thorpe • 10/03/2025
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Article • Sustainability / ESG

Sustainability Megatrends

Navigating the evolving landscape of sustainable real estate requires keeping up with the latest megatrends.
Rachel Schiftan • 16/08/2024
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APAC Capital Markets Midyear Outlook

Recent rapid interest rate hikes have tempered economic expansion, yet growth remains resilient throughout the region. 
Dominic Brown • 08/08/2024
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Research • Economy

APAC Macro Outlook

Gain insights with the APAC Macro Outlook 2024 report: Economic trends, sector performance, and opportunities in the dynamic Asia Pacific region.
Dominic Brown • 30/07/2024
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Article • Investment / Capital Markets

APREA Webinar Capital market Outlook

APREA Webinar Capital market Outlook

Catherine Chen • 01/02/2022
Global Economy Reopening Tracker
Insights • Economy

Global Economy Reopening Tracker

The Cushman & Wakefield Global Economy Reopening Tracker provides a vantage into the changing landscape of economic and social activity across major markets around the world. While the dynamics and details of reopening vary from city-to-city and country-to-country, governments, health organizations and businesses are working together to reopen multiple sectors of the global economy to enable employees and citizens to reenter workplaces and venues.

David Smith • 13/07/2020
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Research • Economy

Coronavirus Impact on Global Property Markets

For the English language version, please visit here here.
Kevin Thorpe • 20/05/2020
Greater China Capital Markets Webinar
Video • Investment / Capital Markets

Greater China Capital Markets Webinar

As the first country affected by COVID-19, what’s the current status of China’s commercial real estate (CRE) market and where is it headed?
In this session our industry experts will discuss the mainland China and Hong Kong market situations and share their insights and analysis on hot topics.

Anna Town • 08/05/2020
Asia Pacific Capital Flows Webinar
Video • Investment / Capital Markets

Asia Pacific Capital Flows Webinar

Recently we launched our Greater China Outbound Investor Intentions Survey report, which identified a re-weighting of Chinese investor interest towards Asia Pacific capital markets. We brought together a selection of key leaders from Greater China, Singapore, and Japan for this client webinar.

Anna Town • 15/04/2020
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Frequently Asked Questions

Our Living sector advisory spans the full investment lifecycle across multifamily rental housing, purpose-built student accommodation, build-to-rent, and senior living assets. Services include acquisition and divestment advisory, financial reporting valuations, feasibility studies, and bespoke consulting. We work with institutional investors, private owners, developers, and operators, applying proprietary market data and local expertise to every engagement. Whether you are entering the market for the first time or managing an existing portfolio, we provide the strategic and analytical support needed to make informed decisions.

The government has introduced a series of demand-side measures designed to attract overseas talent and international students, both of which are critical drivers of rental demand in urban markets. Urban renewal frameworks and condominium redevelopment policies are also creating new supply-side opportunities. While the policy environment in Japan is incremental rather than transformative, the direction is consistently supportive of institutional residential investment. We monitor these developments closely and translate policy signals into practical implications for acquisition strategy, asset positioning, and portfolio planning.

Japan has one of the world's most pronounced ageing demographics, creating structural and sustained demand for senior housing. The private institutional retirement living market remains fragmented, which means well-capitalised operators and investors can establish meaningful positions ahead of broader market consolidation. Government subsidies for workforce training and incentives for senior housing development are improving operational economics. We help clients assess the regulatory environment, identify acquisition targets, and structure investments that are positioned to benefit from this long-term demographic trend.

Living sector valuations in Japan require a precise understanding of local rental market dynamics, zoning regulations, and the specific income characteristics of different asset types, from standard multifamily units to licensed senior care facilities. Our valuation team applies internationally recognised methodologies adapted to the legal and market context, supporting financial reporting, acquisition due diligence, and loan security requirements. We draw on proprietary transaction data and rental benchmarks to ensure our assessments reflect current market conditions accurately and defensibly.

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