The International Monetary Fund’s (IMF) latest projections estimate Germany’s nominal gross domestic product at US$4.43 trillion (S$6.04 trillion) in 2023, compared with US$4.23 trillion for Japan. The projections come as the yen teeters close to the 160 mark against the euro and remains within striking distance of the 33-year low against the dollar that sparked a second round of currency intervention in October 2022.

Japan's three largest banks have announced increases in interest rates for housing loans next month, following adjustments in the Bank of Japan's monetary policy. Sumitomo Mitsui Banking Corp will raise 10-year fixed-rate loans by 0.26 percentage points to 3.79%. Mizuho Bank will increase its rate by 0.3 percentage points to 3.50%, while Mitsubishi UFJ Bank will raise its rate by 0.18 percentage points to 3.7%.

Japan's real estate market is witnessing a substantial influx of foreign investors who are looking to capitalize on the country's investment appeal. These investors are actively seeking properties such as logistics facilities and offices, buoyed by Japan's low interest rates, which make financing their purchases highly advantageous.

In an effort to spur the development of vital industries like semiconductors, storage batteries, and biotechnology, the Japanese government is poised to relax land use regulations, as per Nikkei's report. This strategic maneuver is aimed at mitigating the challenges posed by land shortages, which have been particularly pressing in the semiconductor sector, potentially impeding critical factory investments.

Prime Minister Kishida Fumio, during a speech in New York to over 200 US business leaders, expressed his commitment to invigorating foreign investment in Japan, particularly by creating specialized business zones tailored for asset management firms.

Despite a slowdown in inflation, persistent increases in the prices of essential goods and services are expected to maintain pressure on the Bank of Japan to gradually reduce its extensive economic stimulus measures. Analysts suggest that the Bank may need to revise its inflation projections upwards for the current fiscal year at its upcoming October meeting, as inflation is moderating at a slower pace than initially anticipated.

Japan's rising real estate values are spilling over its three major metropolitan areas -Tokyo, Osaka and Nagoya, where the upturn began, according to a survey by released by the land ministry, as foreign money continues to pour into the market. The outlying areas seeing price rises benefit from three factors - foreign tourism, industrial investment in areas such as semiconductors and redevelopment projects.

Fujitsu is joining the exodus of companies moving their main offices out of Tokyo as remote work catches on in Japan and reduces the need to maintain expensive office space. It said the move is the result of a review of the company’s office needs now that so many employees are working from home. The tech giant announced on Sept. 22 that they will relocate their HQ from Minato-ku to Kawasaki city by the end of September next year.