Foreign Investors’ Acceptance and Usage of PropTech in the Japanese Real Estate Market

The purpose of this preliminary study was to investigate foreign investors’ acceptance and usage of property technology (PropTech) in the Japanese real estate market. To that end, a purposive sample of eleven participants were recruited to complete an online survey. The survey consisted of a modified and previously validated measure of acceptance based on the unified theory of acceptance and use of technology (UTAUT), as well as a usage scale, demographic items, and open-ended questions. The results of the survey showed that participants were generally accepting of PropTech in the Japanese context. The highest mean values were associated with the subscales of effort expectancy and performance expectancy, while the lowest mean value was found in the social influence subscale. Usage of PropTech was slightly more concerned with the gathering of information on properties and markets than transactions or portfolio management. Interviews were also conducted with two of the participants. Interview responses showed that there is a relative lack of available PropTech resources in Japan, especially for non-Japanese speakers. PropTech which is focused on foreign investors in Japan would fill a needed gap in the industry. This is especially true of property portals and social media forums that would help investors to connect, communicate, and learn.