Japan Association of Real Estate Appraisers

Real Estate Appraiser


The Licensed Real Estate Appraiser (LREA) is an exclusive qualification licensed by the Ministry of Land, Infrastructure, Transport and Tourism as per the Real Estate Appraisal Act. The LREA's role is to estimate the appropriate value of real properties and contribute to the formation of reasonable real estate prices in the market. LREAs collect, accumulate, and analyze real property market data.

A third party subjective opinion value is required for sales, litigation, tax purposes and financial statement purposes. In these situations, LREAs may be required to provide a third party opinion of value.

Japan has its own Real Property Appraisal Standard and LREAs are required to conduct valuation tasks based on this standard. The LREA system develops and maintains ethical standards within our Code of Conduct, as strict ethical practices are essential in order to conduct appraisal work as a third party opinion.