Competition for Australian sites is heating up for Japanese companies such as Asahi Kasei Homes, Sumitomo Forestry Group and Daiwa House.
Already a subscriber?Asahi Kasei Homes, the owner of NSW’s biggest home builder, will expand into land development in coming years to secure the supply of new greenfields land and keep Newcastle-based NEX Building Group expanding.
Competition is heating up among Japanese investors for opportunities in Australian real estate, whichAustralia’s population-driven growth story is a drawcard – particularly in residential property – that stands in contrast to Japanese investors’ home market, hampered by an ageing and shrinking population.“Overseas business should continue to be the main growth driver for AKH,” Mr Naganawa said.
But the home-building market has been shrinking. The HIA’s ranking of the country’s largest builders by housing starts shows that NEX’s total starts sank to 2865 in the year to June 2023 from 4143 a year earlier. Even so, it only slipped one place to third-largest, after Metricon Homes and ABN Group .
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