KUALA LUMPUR: Juwai IQI, Asia's largest proptech company by reach, has brought the IQI agency network to Japan with the launch of IQI Japan in Tokyo, Osaka and Hokkaido. The new offices have been formed in partnership with local real estate agency SVA Inc and its founder Kazuaki Nebu, who has over 20 years of experience in the real estate industry.
The new IQI Japan will bring to the country’s top markets all the power of Juwai IQI, including its network of more than 30,000 global agents, its property marketing portals and its unparalleled proptech platform, Atlas.
"The launch of IQI Japan is a strategic move that enables us to work with local Japanese buyers and developers and also international buyers. We want to be the intermediary for Japanese and international buyers going in either direction, either into or out of the country,” Juwai IQI co-founder and group chief executive officer Kashif Ansari said.
“Japanese buyers are among the most active cross-border buyers in other countries. Japan itself is very popular with investors from all over the Asia Pacific. China, Malaysia, Indonesia, Korea and Thailand are the countries where we have the most opportunities to leverage our new presence in Japan.
"Japan is the world’s third-largest economy, has a stable political and economic system, and is safe with very low crime. There is no restriction or special taxes on foreigners buying real estate. And the exchange rates make property relatively affordable compared to other developed Asia Pacific markets,” he said.
Juwai IQI co-founder and group managing director Daniel Ho said with international travel being restored across the Asia-Pacific, this is an excellent time for Juwai IQI to launch IQI Japan.
“We are looking forward to working with Nebu-san and his excellent team who have served many customers and achieved sales of over US$6.8 billion. In 2023, Asian investors are seeking quality and safety, and that applies to both property types and the markets buyers choose to invest in. Japan is an ideal and surprisingly affordable safe-haven market that can ride out the political instability and economic uncertainties caused by geopolitical issues and high inflation.
"We already direct many international buyer leads to agents and developers in Japan. The launch of the IQI Japan office allows us to offer more services to those buyers. The international buyers we work with are looking for second homes, rental properties, and student housing for their children,” said Ho.
SVA Inc president Kazuaki Nebu, who is also IQI Japan’s new country head said the partnership with Juwai IQI offers his team access to one of the world's largest international real estate agent networks, an advanced agent technological platform in the form of Atlas and the Juwai listing portals.
"Japan is perfectly positioned for investment, and both domestic and overseas buyers are responding. The economy gained momentum in 2023, the service sector grew, employment climbed and wages ticked upwards. Pent-up demand from the pandemic is still pushing consumer spending up.
"There is a good opportunity for international buyers in 2023 because the possibility of higher interest rates has increased supply. Buyers don’t have to worry about getting into bidding wars. Given the exchange rate, foreign buyers now have a great deal of purchasing power.
“Besides residential property, Chinese investors are eager to purchase ryokans, traditional Japanese inns. By one industry estimate, foreigners will own 40% of ryokans by 2033," said Nebu.