世邦魏理仕CBRE：2026年日本房地产市场展望报告（英文版）

Japan recorded positive real GDP growth for five consecutive quarters from Q2 2024 to Q2 2025. While real GDP dropped by 1.8% q-o-q in Q3 2025 (first preliminary estimate), private consumption and corporate capital investment continued to make positive contributions, suggesting that the economy is continuing to recover gradually. On April 2, 2025, the Trump administration announced the implementation of reciprocal tariffs on the U.S.’s trading partners, creating concerns of economic stagnatio