These guidelines specify standard appraisal procedures for Japanese real estate appraisers (the only profession that is licensed and registered by the government by law. Hereinafter “Japanese Appraisers”) to appraise overseas real estate for investment purposes. As the globalization of the real estate market progresses, cross-border real estate investment is gaining momentum. In addition, real estate investment trust (REIT) markets have been set up in the past few years, and international competition in real estate markets is heightening rapidly
