On behalf of the Asian Real Estate Society (AsRES), I would like to welcome you to the 2013 International Conference. This will be the first time that Waseda University, Center for Real Estate, is hosting the event. We will be holding the 2013 conference at Kyoto University main campus in the historical city of Kyoto, a world renowned integrated historical resort. Kyoto is a unique city in Asia because it has an unbroken and well-recorded millennium (in fact 1210 years) of history, much of which as reigning capital of Japan. AsRES Conferences have always provided a great platform for scholars, practitioners and policy makers in the field of real estate and urban economics throughout the world to examine such issues. Following the AsRES tradition, the 2013 conference to be held in Japan will provide a forum to exchange ideas on important topics such as real estate markets, real estate finance, development and investment, housing and urban planning, urban economics, regulation and government policies. Given the likely slowdown in the world economy, there is a need for us to re-examine pertinent issues that come with urbanization such as environmental sustainability and economic growth, and the role of real estate in fast growing Asian cities. In addition to paper sessions, the conference will also feature special panel discussions on specific issues regarding Asia, as well as future trends affecting the real estate industry. Scholars, practitioners, students and everyone interested in the various fields of real estate are welcomed.