Message from the Director
Center for Urban and Real Estate Studies (CURES), Hitotsubashi University
Hitotsubashi University has long been a center of excellence in urban and real estate research, with scholars actively engaged in fields such as urban economics, transportation economics, spatial economics, urban policy, real estate economics, and real estate finance. Building on this strong intellectual foundation, we have launched the Center for Urban and Real Estate Studies (CURES) to further advance research and disseminate findings broadly to society.
Cities and real estate form the foundation of our daily lives and economic activities. At the same time, they serve as mirrors reflecting the structure and values of society. Today, we are witnessing rapid changes in the form of population aging and decline, environmental concerns, technological innovation, and increasingly diverse lifestyles. These transformations have made the urban and real estate environment more complex and dynamic than ever before. In this context, new perspectives and institutional frameworks are urgently needed to help build sustainable and inclusive societies.
CURES was established to meet these pressing challenges. Our mission is to promote interdisciplinary and evidence-based research on urban and real estate issues and to generate knowledge that informs policy design and institutional reform both in Japan and around the world. By integrating Hitotsubashi University’s long-standing strengths in economics, commerce, law, and sociology with emerging fields such as data science, spatial information analysis, and artificial intelligence, we aim to produce cutting-edge, impactful research.
Shimizu Chihiro Director,
Center for Urban & Real Estate Studies (CURES)
The Center is built upon three core pillars:
First, we aim to conduct high-level academic research on key themes such as urban structure, property prices, land use, and market institutions. In particular, we believe that policy-relevant issues—such as the development of property price indices, housing policy and inequality, urban resilience, and regional revitalization—require rigorous theoretical frameworks and high-quality empirical data.
Second, we are committed to strengthening connections between academic research and public policy. CURES will collaborate with central government ministries, local governments, and international organizations such as the OECD, IMF, and United Nations to support evidence-based policymaking (EBPM). We view it as the university’s essential responsibility to ensure that academic insights are translated into practical solutions to real-world challenges.
Third, we seek to cultivate the next generation of scholars and practitioners. As urban and real estate issues become increasingly diverse and complex, there is a growing need for human capital that bridges theory and practice and that possesses both global perspectives and strong empirical skills. CURES will provide graduate students and early-career researchers with educational and research opportunities that emphasize engagement with practice, with the goal of nurturing professionals who combine broad vision with deep expertise.
Another major pillar of the Center is the strengthening of international research networks. We have already established strong ties with some of the world’s leading institutions in urban and real estate studies, including the Massachusetts Institute of Technology (MIT), University of Cambridge, London School of Economics and Political Science (LSE), Tsinghua University, the University of Hong Kong, National University of Singapore (NUS), and University of Amsterdam. Going forward, we will further expand these collaborations through joint research and academic exchange. Located in Tokyo—one of the world’s leading global cities—CURES is well-positioned to serve as a hub for urban and real estate research in Asia.
I have personally worked with domestic and international scholars and policymakers on various initiatives, including the development of property price indices, comparative studies of housing market institutions, and empirical analysis of urban structure using spatial econometric techniques. Building on this experience, I hope to promote an open and collaborative environment at CURES—one that encourages meaningful dialogue and cooperation among researchers, practitioners, and public officials from diverse backgrounds.
Finally, I would like to express my heartfelt gratitude to all those who contributed to the establishment of the Center: colleagues at Hitotsubashi University, our partner institutions, and everyone who has supported our research activities. With a sincere commitment to generating new knowledge in urban and real estate studies—and to translating that knowledge into real societal value—I look forward to leading the Center into this new chapter.
I sincerely welcome your continued guidance and support in the years to come.
Center for Urban and Real Estate Studies (CURES)
Hitotsubashi University
Chihiro Shimizu