New Research

Building Owner Survey 2018

In partnership with the laboratory of Professor Yukio Komatsu of the Department of Architecture at Waseda University,*1 Xymax Real Estate Institute (hereinafter, "Xymax REI") has conducted questionnaire surveys of owners of small and medium-sized buildings who leased out their buildings in Tokyo 23 Wards and Osaka city in 2017 and in Tokyo 23 Wards in 2015.*2

In this third survey, we conducted a questionnaire survey and interviews on the current state of the building lease business, its outlook, and its future direction with building owners in 19 government-designated cities excluding Osaka. This report is a summary of the results.

Hereinafter, this report will be referred to as "Government-designated Cities (2018)" and the survey in 2017 as "Tokyo & Osaka (2017)."

  1. *1Laboratory of Professor Yukio Komatsu, Department of Architecture, Waseda University:
  2. *2"Building Owner Survey 2015":
    "Building Owner Survey 2017":
Key Findings
  1. Profile of building owners
    • Age: More than 60% of the business managers are aged 60 or older; No. of properties owned: 70% of the building owners own one or two properties.
  2. The current building lease business
    • To more than 80% of owners, the attractiveness of the building lease business is stable income.
    • Of the various measures in the building lease business, a large percentage of owners place importance on and implement "responding to tenants' requests" and "refurbishment or renovation of building." While they place importance on "preparing a medium- to long-term repair plan" and "renovating existing non-conforming buildings," not a lot of them implement them.
  3. The future building lease business
    • Short-term (around three years) outlook: 40% are optimistic, exceeding pessimistic views of 17%. Medium- to long-term (five to ten years) outlook: 36% are pessimistic, exceeding optimistic views of 23%.
    • Interest in future changes in society: "Decreases in the population and the number of workers" accounted for 73%, far exceeding other items.
  4. Building owners who are conscious of planned maintenance
    • Building owners with a medium- to long-term repair plan implement all measures such as "refurbishment or renovation of building" and "responding to tenants' requests" at a greater rate than building owners without a repair plan and are more optimistic about the outlook.
  5. Efforts made in order to be chosen by tenants
    • Examples of efforts to overcome challenges and concerns in the future building business were obtained from the interviews.
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