Armstrong backs Japan property

Armstrong said the Japanese residential market was coming out of a bear market and prices were appreciating for the first time in many years. “The market there is at a much earlier stage in the cycle and if you look at the yield versus 10 year government bonds, which is 5pc to 6pc against less than 2pc, then it is a very attractive area to be in.” He added REITs in Europe offered nothing in terms of yield premium against 10 year government issued fixed income, which was why new property investment was being directed to Asia. In addition to the Japanese Residential Investment Compan...