Real Property Securitization
Real Property Securitization in Japan
In Japan, the systems governing the securitization of real property1 , for example, the legal system, have been designed and developed to meet the needs of both property owners and investors. Over time, this system has been refined to take account of the accumulated knowledge and experience of its participants and a variety of securitised products have been introduced. It is expected that broader investor participation in the market for real property securities will vitalise the real property market and encourage land utilisation. In this chapter, the role, significance and current status of real property securitization in Japan are discussed, as well as issues that need to be addressed if real property securitization is to be successfully promoted.
1 In this report, we use the term “real property”, which indicates “real estate” and “property”, so that this report is easily understood by readers in the US, the UK and other parts of the world.
- Significance of Real Property Securitization
- Real Property Securitization from the Viewpoint of Original Asset Owners (Originators)
- Real Property Securitization from the Viewpoint of Investors
- Methods of Real Property Securitization and its Characteristics
- The Liquidation of Real Property through Securitization Methods: the current position
- Future Direction and Promotion of Real Property Securitization