Japan's real estate investment is poised to reach a record for a second consecutive year, driven by office demand and asset-light strategies, according to Jones Lang La Salle Inc.

Investment volume is forecast to climb to ¥7 trillion ($44 billion) this year, with property investment jumping to a record ¥3.8 trillion in the January-June period. Foreign investors accounted for 30% of first-half investment, seeking high returns through property value enhancement.

High occupancy rates and rental growth are boosting returns, while unprecedented property deals reflect companies' efforts to offload assets for efficiency. Despite rising interest rates, investors remain undeterred as inflation returns to the economy.

KKR & Co. and Blackstone Inc. are among bidders for Fuji Media Holdings Inc.'s real estate business, with some offers exceeding ¥1 trillion. Tokyo ranked second globally for real estate investment in the first half, trailing only Singapore.