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Real estate

Japan senior living – Capitalizing on structural trends

Harry Tan

Head of Research, Strategic Insights, Real Estate, Asia Pacific

Leo Chung

Director of Research, Strategic Insights

20 Aug 2025

Reading time: 2 min

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Japan has emerged as one of the top three commercial real estate markets in the world, as a result of structural economic reforms, monetary expansion and flexible fiscal policy.¹

Combined with a progressively aging population and a low fertility rate, demand for senior homes across key regional cities in Japan has steadily increased. We anticipate that this trend will continue in the next few decades.

Key Highlights

The persistent demand-supply gap in senior housing and growing number of elderly couples without dependants
Wide yield spread and a window of opportunity to extract value
An outline of senior housing types and services
Rapid increase in an affluent senior population in key regional capital cities

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