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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
Nara, Japan Skyline
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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

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

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About the authors

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Harry Tan

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

Leo Chung, CFA®

Director of Research, Strategic Insights
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