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[nottu]

[FG Lurker]

The situation in the construction industry here is nuts right now. I know a few people who are involved in the real estate market and especially with condos right now NOTHING is selling.

Last time we were drinking together he told me that if someone turns up with cash in hand to buy a 35mil (3500man) place they can very likely get it for 25mil (2500man). Developers come around to visit his business and offer him massive discounts if he buys a bunch of units in one building, at times up to 50% off the list price. (Yeah, he's a slightly shady sorta character. )

[Samurai_Jerk]

[quote="FG Lurker"]The situation in the construction industry here is nuts right now. I know a few people who are involved in the real estate market and especially with condos right now NOTHING is selling.

Last time we were drinking together he told me that if someone turns up with cash in hand to buy a 35mil (3500man) place they can very likely get it for 25mil (2500man). Developers come around to visit his business and offer him massive discounts if he buys a bunch of units in one building, at times up to 50% off the list price. (Yeah, he's a slightly shady sorta character. ]

Sounds about right. The only people doing anything in real estate in Japan right now are relatively small time equity players. It's their chance to pick up things that they normally couldn't since the competition can't get loans and out bid them. Condos and small office buildings seem to be their targets right now.