Hit News

Japanese commercial real estate transactions were down sharply in 2008, marking the end of six consecutive years of gains, according to a Japanese media report Monday. The value of real estate transactions totaled about 2.8 trillion yen ($30.8 billion) in 2008, down from the 5.6 trillion yen in 2007, the Nikkei newspaper reported, citing data relapsed by the Urban Research Institute, which tracks information released by real estate investment trusts and other listed companies. The number of transaction fell 80% in the October to December quarter from a year earlier and were down 51% for the year, the report said