日本住宅房地产行业市场前景及投资研究报告-培训课件外文版2024.4恒大碧桂园万达万科

INDUSTRIES

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MARKETSResidentialrealestateinJapanCHAPTER

01OverviewAverageofficialresidentiallandpricegrowthinJapanfrom2015to2024AnnualchangeinofficialresidentiallandpricesinJapan2015-20242.5%2%2.0%1.5%1.0%0.5%0.0%-0.5%-1.0%1.4%0.8%0.6%0.5%0.3%20180%-0.2%2016-0.4%2015-0.4%20212017201920202022202320244Description:In2024,theofficialresidentiallandpriceinJapanincreasedbytwopercentcomparedtothepreviousyear.ꢀBrokendownbyprefecture,thehighestgrowthratewasrecordedinOkinawa.

ReadmoreNote(s):Japan;2015to2024;asofJanuary1eachyearSource(s):MLIT(Japan)AveragestandardresidentiallandpricegrowthinJapanfrom2014to2023AnnualchangeinstandardresidentiallandpricesinJapan2014-20231.0%0.7%0.5%0.1%0.0%-0.1%-0.3%-0.5%-1.0%-1.5%-0.5%2021-0.6%-0.7%2020-0.8%-1%-1.2%201420152016201720182019202220235Description:In2023,thestandardlandpriceforresidentiallandinJapangrewby0.7percent.ThestandardlandpricesurveyisanassessmentoflandpricesasofJuly1eachyearconductedbyprefecturalgovernments.

ReadmoreNote(s):Japan;2014to2023;asofJuly1eachyearSource(s):MLIT(Japan)AverageofficialresidentiallandpricegrowthinJapanfrom2015to2024,byregionAnnualchangeinofficialresidentiallandpricesinJapan2015-2024,byregionGreaterTokyoAreaGreaterOsakaAreaGreaterNagoyaAreaFourregionalcities*Regionalarea**10.0%8.0%6.0%4.0%2.0%0.0%-2.0%20152016201720182019202020212022202320246Description:In2024,theofficialresidentiallandpriceintheGreaterTokyoAreainJapanroseby3.4percent.Thegrowthratewasthehighestinthefourregionalcitiesandremainedlowinregionalareas.

ReadmoreNote(s):Japan;2015to2024;asofJanuary1eachyear;*Sapporo,Sendai,Hiroshima,andFukuokaCity.**Regionalareareferstotheareaexcludingthethreemajormetropolitanareasandthefourregionalcities.

Figurespriorto2020arefrom[...]

ReadmoreSource(s):MLIT(Japan)AverageofficialresidentiallandpriceinmajorcitiesinJapanfrom2015to2024,bycity(in1,000Japaneseyenpersquaremeter)AveragepriceofresidentiallandinmajorcitiesinJapan2015-2024,bycitySapporoSendaiTokyo(23wards)NagoyaOsakaHiroshimaFukuoka8007006005004003002001000704.6665.3641.4631.3631.4601.3572.3549.1524.1518.6233.32652127.92254.3246.8188.7247249.3241.8183.1236.4238.9175231.6201.3192.6196.3140.3187.3180.1136.4168.3120.5168.9123.7172.1133.2168.5161.8150.1140.6144.7132.6133.8126.4116.8120.9121112.1110.8106.8108.2104.699.7102.297.290.889.780.284.578.882.572.975.172.967.66163.265.320152016201720182019202020212022202320247Description:In2024,theaverageofficialpriceforresidentiallandinJapanwasthehighestinTokyoatalmost705thousandJapaneseyenpersquaremeter.TheaverageresidentiallandpricepersquaremeterinOsakaincreasedto265thousandyen.

ReadmoreNote(s):Japan;2015to2024;asofJanuary1eachyearSource(s):MLIT(Japan)RateofowneddwellingsinJapanfrom1973to2018HomeownershiprateinJapan1973-201863.0%62.4%62.5%62.0%61.5%61.0%60.5%60.0%59.5%59.0%58.5%61.7%61.3%61.2%61.2%61.1%60.4%60.3%59.8%199359.2%1973197819831988199820032008201320188Description:In2018,thehomeownershiprateinJapanstoodataround61.2percent,remainingmostlyflatinthepast15years.Thatyear,thetotalnumberofhousesownedinthecountryamountedtoapproximately32.8million.

ReadmoreNote(s):Japan;1973to2018Source(s):MinistryofInternalAffairsandCommunications(Japan);StatisticsBureauofJapanConsumerPriceIndex(CPI)ofhousinginJapanfrom2014to2023CPIofhousinginJapan2014-2023120102.4101.3100.699.699.699.599.399.299.410010080604020020142015201620172018201920202021202220239Description:In2023,theConsumerPriceIndex(CPI)ofhousinginJapanstoodat102.4indexpoints,reachingadecadehigh.Thisindicatedapricelevelincreaseof2.4pointscomparedtothebaseyear2020.

ReadmoreNote(s):Japan;2014to2023;thesourceuses2020asbaseyearwithanindexof100pointsSource(s):e-Stat(Japan);MinistryofInternalAffairsandCommunications(Japan)CHAPTER

02ConstructionNumberofnewconstructionstartsofdwellingsinJapanfrom2014to2023(in1,000units)NumberofnewhousingunitsstartedinJapan2014-20231,200967.24964.641,0008006004002000942.37909.3905.12892.26856.48859.53815.34819.62201420152016201720182019202020212022202311Description:In2023,approximately819.6thousandhousingstartswereinitiatedinJapan.Thisrepresentedadeclineof4.6percentcomparedtothepreviousyear.Thehighestfigureinthepastdecadewasrecordedin2016.

ReadmoreNote(s):Japan;2014to2023Source(s):e-Stat(Japan);MLIT(Japan)TotalfloorareaofdwellingconstructionstartsinJapanfrom2014to2023(inmillionsquaremeters)FloorspaceofresidentialconstructionstartsinJapan2014-20239078.1877.518070605040302010075.6875.3175.0674.8870.6769.0166.4564.18201420152016201720182019202020212022202312/statistics/1272923/japan-floor-space-dwelling-construction-startsIn2023,housingconstructionstartsinJapancoveredatotalfloorspaceofapproximately64.2millionsquaremeters,downfrom69millionsquaremetersin2022.Thefloorspaceofresidentialconstructionstartshasgraduallydecreasedinrecentyears.ReadmoreNote(s):Japan;2014to2023Source(s):e-Stat(Japan);MLIT(Japan)NumberofdwellingconstructionstartsinJapanfrom2014to2023,bytypeofbuilding(in1,000units)NumberofresidentialconstructionstartsinJapan2014-2023,bytypeofbuildingDetachedhousesTenementhousesApartments1,2001,0008006004002000416.83117.05426.32109.25429.07410.63100.4384.97109.83375.9787.64369.68105.4356.668.7383.2472.18349.01379.7173.1170.21433.362016431.342018441.512019431.182021417.192014414.512015404.122022396.12366.8120172020202313Description:In2023,constructionworksforaround366.8thousanddetachedhouseswerelaunchedinJapan.Thenumberofconstructionstartsofsingle-familyhomesdecreasedcomparedtothepreviousyear.

ReadmoreNote(s):Japan;2014to2023Source(s):e-Stat(Japan);MLIT(Japan)NumberofdwellingconstructionstartsinJapanfrom2014to2023,byuse(in1,000units)NumberofresidentialconstructionstartsinJapan2014-2023,byuseOwnedForrentIssuedCondominiumsforsaleDetachedhousesforsale1,2001,0008006004002000133.74138.19142.39123.62125.42147.52141.09145.99114.575.88114.835.77130.75137.29110.517.47115.656.01110.487.37117.86.4101.29108.25.68107.887.23107.885.085.59418.54419.4396.4362.19378.72342.29321.38345.08306.75343.89285.272014283.372015292.292016284.282017283.242018288.742019285.582021261.092020253.292022224.35202314Description:In2023,therewerearound224.4thousandconstructionstartsforowneddwellingsinJapan.Thetotalnumberofhousingstartsdeclinedby4.6percentcomparedtothepreviousyear.

ReadmoreNote(s):Japan;2014to2023Source(s):e-Stat(Japan);MLIT(Japan)NumberofnewconstructionstartsofprefabricateddwellingsinJapanfrom2014to2023(in1,000units)NumberofnewprefabricatedhousingunitsstartedinJapan2014-2023160148.53143.55140.5139.0114012010080131.5127.13113.47112.53110.11103.46040200201420152016201720182019202020212022202315Description:In2023,constructionworksforcloseto103.4thousandprefabricatedhousingunitswereinitiatedinJapan,representingadecreaseofabout8.1percentcomparedto2022.Prefabricatedhomesmadeup12.6percentofthetotalnumberofresidentialconstructionstartsduringthatyear.ReadmoreNote(s):Japan;2014to2023Source(s):e-Stat(Japan);MLIT(Japan)CHAPTER

03HousingstockTotalnumberofdwellingsinJapanfrom1963to2018(inmillions)NumberofhousingunitsinJapan1963-20187062.4160.6357.59605040302010053.8950.2545.8842.0138.6135.4531.0625.59196821.091963197319781983198819931998200320082013201817Description:In2018,therewereapproximately62.4milliondwellingsinJapan.Japan’shousingstockhasconstantlygrownoverthepastdecades.ReadmoreNote(s):Japan;1963to2018Source(s):MinistryofInternalAffairsandCommunications(Japan);MLIT(Japan)NumberofdwellingsinJapanin2018,byyearofconstruction(inmillions)NumberofhousingunitsinJapan2018,byconstructionyear109.1298765432107.455.585.215.094.974.713.212.861.360.960.90.880.820.521950orearlier1951-19701971-19801981-19901991-19951996-20002001-20052006-2010Yearofconstruction2011-201320142015201620172018*Notreported18Description:Asof2018,around9.12millionhousingunitsinJapanwerebuiltbetween1981and1990.Thenumberofdwellingsconstructedbefore1950amountedtoapproximately1.36millionunits.Overall,therewerearound53.6millionoccupieddwellingsinJapanin2018.ReadmoreNote(s):Japan;2018;*asofSeptemberSource(s):e-Stat(Japan);MinistryofInternalAffairsandCommunications(Japan)NumberofdwellingsinJapanfrom1983to2018,bybuildingtype(inmillions)NumberofhousingunitsinJapan1983-2018,bytypeDetachedhousesTenementhousesApartmentsOther6050400.140.130.130.160.2216.623.350.222.0920.681.330.218.730.199.3314.2711.4130201001.2928.61.371.481.832.162.492.8828.7627.45200826.4925.2724.1423.3122.31198319881993199820032013201819/statistics/667684/japan-dwellings-number-by-typeIn1983,therewereapproximately22.31milliondetachedhousesinJapan.Thisnumberincreasedtoaround28.76milliondetachedresidentialdwellingsin2018.Thenumberofapartmentbuildingshasincreasedmorethantwofoldsince1983.

ReadmoreNote(s):Japan;1983to2018Source(s):e-Stat(Japan);MinistryofInternalAffairsandCommunications(Japan)DistributionofdwellingsinJapanin2018,bytenureDistributionofhousingunitsinJapan2018,bytenureShareofdwellings0%10%20%30%40%50%60%70%OwneddwellingsRenteddwellingsownedprivately61.2%28.5%RenteddwellingsownedbylocalgovernmentsIssueddwellings3.6%2.1%Dwellingsownedbyurbanrenaissanceagenciesorpubliccorporations1.4%20Description:In2018,61.2percentofdwellingsinJapanwereowneddwellings.Amongrenteddwellings,privatelyownedrentedresidentialpropertiesaccountedfor28.5percentoftotaldwellingsinJapanthatyear.

ReadmoreNote(s):Japan;2018Source(s):e-Stat(Japan);MinistryofInternalAffairsandCommunications(Japan)ShareofvacantdwellingsamongtotaldwellingsinJapanfrom1963to2018VacancyrateofhousingunitsinJapan1963-201816%14%12%10%13.6%13.5%13.1%12.2%11.5%9.8%9.4%8.6%7.6%8%5.5%6%4%2%0%4%2.5%19631968197319781983198819931998200320082013201821Description:TheshareofvacanciesamongthetotalnumberofdwellingunitsinJapanstoodat13.6percentin2018.Thisrepresentedanincreasefrom2.5percentin1963.

ReadmoreNote(s):Japan;1963to2018Source(s):MinistryofInternalAffairsandCommunications(Japan);MLIT(Japan)CHAPTER

04PricedevelopmentMonthlyresidentialpropertypriceindexinJapanfromJanuary2019toOctober2023MonthlyresidentialpropertypriceindexinJapan2019-202314013513012512011511010523Description:InOctober2023,thepreliminaryresidentialpropertypriceindexinJapanstoodat136.4.Afterdecliningto111.6pointsinJuly2020followingtheoutbreakofthecoronavirus(COVID-19)pandemic,theindexrecoveredandreachedapeakinJune2023.Theresidentialpropertypriceindexcomprisesresidentialland,detachedhouses,andcondominiums.ReadmoreNote(s):Japan;January2019toOctober2023;2010asbaseyearwithanindexof100;seasonallyadjustedfigures;*Preliminaryfigures.

Residentialpropertyincludesresidentialland,detachedhouses,andcondominiums.

Theindexiscalculated[...]

ReadmoreSource(s):MLIT(Japan)MonthlyresidentialpropertypriceindexinJapanfromJanuary2019toOctober2023,bytypeMonthlyresidentialpropertypriceindexinJapan2019-2023,bytypeResidentiallandDetachedhousesCondominiums21019017015013011090705024Description:InOctober2023,thepreliminaryresidentialpropertypriceindexforcondominiumsinJapanstoodat193.9,upby0.2percentcomparedtothepreviousmonth.Theoverallresidentialpropertypriceindex,comprisedofresidentialland,detachedhouses,andcondominiums,stoodat136.4pointsinOctober2023.ReadmoreNote(s):Japan;January2019toOctober2023;2010asbaseyearwithanindexof100;seasonallyadjustedfigures;*Preliminaryfigures.

TheindexiscalculatedonthebasisofdatacollectedthroughtheSystemtoProvideRealEstateTransaction[...]

ReadmoreSource(s):MLIT(Japan)MonthlyresidentialpropertypriceindexinTokyoPrefectureinJapanfromJanuary2019toOctober2023MonthlyresidentialpropertypriceindexinTokyoPrefecture2019-202316516015515014514013513012512025Description:InOctober2023,theresidentialpropertypriceindexinTokyoPrefectureinJapanstoodat157.9.Sincedecliningto124.1pointsinJuly2020,theindexhasincreasedsignificantly.Theresidentialpropertypriceindexcomprisesresidentialland,detachedhouses,andcondominiums.ReadmoreNote(s):January2019toOctober2023;2010asbaseyearwithanindexof100;seasonallyadjustedfigures;*Preliminaryfigures.

Residentialpropertyincludesresidentialland,detachedhouses,andcondominiums.

Theindexiscalculatedonthe[...]

ReadmoreSource(s):MLIT(Japan)RealhousepriceindexinJapanfrom1stquarter2014to2ndquarter2023QuarterlyrealhousepriceindexinJapan2014-2023125119.9119.7119.4119118.6117.1115.4114.212011511010510095111.5109.7109.4106.5107.1507.4106.9

107107.1105.1906.1106105.9105.4104.8

104.1904.8104.6103.4102.1802.7101.3100.6100.399.499.798.697.799.297.426Description:Inthesecondquarterof2023,therealhousepriceindexinJapanstoodat119.4,representinganincreaseof0.4indexpointscomparedtothepreviousquarter.Therealhousepriceindexrepresentsthedevelopmentofdeflatednominalhousepricesusingtheprivateconsumptiondeflator.ReadmoreNote(s):Japan;Q12014toQ22023;thesourceuses2015asbaseyearwithanindexof100;seasonallyadjustedfiguresSource(s):OECDHousepricetoincomeratioinJapanfrom1stquarter2014to2ndquarter2023QuarterlyhousepricetoincomeratioinJapanQ12014-Q22023120115110114.1714.6114.4114.2113.2110.1109.4109.2106.6104.8103.910510095103.2

103.1103.3103.2102.6103.1102.7102.3100.6101.8101.1401.5101.1801.9100.8100.1100.199.899.599.597.899.198.698.699.299.296.29027Description:Inthesecondquarterof2023,thehousepricetoincomeratioinJapanstoodat114.4,representingadecreaseof0.2indexpointscomparedtothepreviousquarter.Theratioiscalculatedbydividingnominalhousepricesbythenominaldisposableincomeperhead.ReadmoreNote(s):Japan;Q12014toQ22023;thesourceuses2015asbaseyearwithanindexof100;seasonallyadjustedfiguresSource(s):OECD;VarioussourcesHousepricetorentratioinJapanfrom1stquarter2014to2ndquarter2023QuarterlyhousepricetorentratioinJapanQ12014-Q22023135130125120115110129.5128.6128126.8125.1122.8119.1117.7114.6112.6111.4108.8

108.8109.1409.3

109.6109108.7108.5107.6107.3106.9105.1605.8105.1205.1103.7102.1702.610510095101100.1500.699.499.698.397.496.996.99028Description:ThehousepricetorentratioinJapanstoodat129.5inthesecondquarterof2023,upfrom128.6inthepreviousquarter.Theratiowascalculatedbydividingthenominalhousepriceindexbythehousingrentindex.

ReadmoreNote(s):Japan;Q12014toQ22023;thesourceuses2015asbaseyearwithanindexof100;seasonallyadjustedfiguresSource(s):MLIT(Japan);OECD;VarioussourcesCHAPTER

05HousingloansValueofnewhousingloansoriginatedinJapanfromfiscalyear2013to2022(intrillionJapaneseyen)NewhomeloansissuedinJapaninFY2013-20223024.325201510521.621.1212120.520.620.719.919.10201320142015201620172018201920202021202230Description:Inthefiscalyear2022,newhomeloansgrantedinJapanamountedto20.7trillionJapaneseyen.Thevalueofnewhousingloansdecreasedfrom21.6trillionyeninthepreviousyear.

ReadmoreNote(s):Japan;fiscalyear2013to2022;thefiscalyearinJapanstartsonApril1andendsonMarch31ofthefollowingyear;includingrefinancingloansSource(s):BankofJapan;JHF;VarioussourcesValueofoutstandinghousingloansinJapanfromfiscalyear2013to2022(intrillionJapaneseyen)OutstandinghomeloansinJapaninFY2013-2022250200216211206200195191187181182183150100500201320142015201620172018201920202021202231Description:Inthefiscalyear2022,outstandinghomeloansinJapanamountedto216trillionJapaneseyen,upfrom211trillionyeninfiscal2021.Domesticallylicensedbankswerethelargestmortgagelenders.

ReadmoreNote(s):Japan;fiscalyear2013to2022;thefiscalyearinJapanstartsonApril1andendsonMarch31ofthefollowingyear;asoftheendofeachfiscalyearSource(s):BankofJapan;JHF;VarioussourcesDistributionofnewhousingloansissuedbyprivatefinancialinstitutionsinJapanfromfiscalyear2018to2021,bypurposeShareofnewhomeloansissuedinJapanFY2018-2021,bypurposeNewhomesPre-ownedhomesRefinancing120%100%80%60%40%20%0%5.8%5.8%7.5%9.5%19.9%20.8%19.6%19.2%74.4%202073.4%202172.9%201971.4%201832Description:AccordingtoasurveyamongprivatefinancialinstitutionsinJapan,73.4percentofnewhousingloansgrantedtoindividualsinfiscalyear2021weredirectedatfinancingnewhomes.Around5.8percentofnewloanswereissuedforthepurposeofrefinancinghousingloans.ReadmoreNote(s):Japan;fiscalyears2018to2021;theJapanesefiscalyearstartsonApril1ofthestatedyearandendsonMarch31ofthefollowingyear;562privatefinancialinstitutions*;completedsurveyformswerecollectedbymail,e-mail,fax,etc.;[...]

ReadmoreSource(s):e-Stat(Japan);MLIT(Japan)MedianinterestrateonvariableratehousingloansinJapanfrom2014to2023MedianinterestrateonvariableratehousingloansinJapan2014-2023122.0%102.0%82.0%62.0%42.0%22.0%2.48%20142.48%20152.48%20162.48%20172.48%20182.48%20192.48%20202.48%20212.48%20222.48%20232.0%33Description:InDecember2023,themedianinterestrateonhousingloansissuedbycitybanksinJapanstoodatabout2.48percentperannum,remainingatthesamelevelasinpreviousyears.CitybanksarethelargestbanksinJapan.

ReadmoreNote(s):Japan;2014to2023;asofDecember1eachyear*;valueshavebeenroundedSource(s):HousingFinancePromotionAssociationMaximumandminimuminterestratesofFlat35housingloanswithatermof21to35yearsinJapanfromDecember2017toDecember2023Interestrateson21to35-yearFlat35housingloansinJapan2017-2023MinimumMaximum4.0%3.5%3.0%2.5%2.0%1.5%1.0%0.5%3.47%1.91%3.09%1.76%3%2.54%1.49%2.21%1.33%2.15%2.07%1.41%2.06%1.31%2.03%1.29%2.01%1.37%1.99%1.34%1.96%1.27%1.87%1.21%1.65%1.35%Dec2017

Jun2018

Dec2018

Jun2019

Dec2019

Jun2020

Dec2020

Jun2021

Dec2021

Jun2022

Dec2022

Jun2023

Dec202334/statistics/1280942/japan-interest-rates-21-to-35-year-flat-35-home-loansAsofDecember2023,themaximuminterestratefor21to35-yearfixed-rateFlat35housingloanswithaloan-to-valueratioof90percentorlessinJapanstoodat3.47percent.Thisrepresentedanincreasecomparedto3.09percentsixmonthsearlier.ReadmoreNote(s):Japan;December2017toDecember2023;loanswithaloan-to-valueratioof90percentorless;amongborrowerswhohavetakenoutgrouplifeinsuranceprovidedbytheJapanHousingFinanceAgencySource(s):Flat35CHAPTER

06CondominiumsTotalnumberofresidentialcondominiumunitsinJapanfrom2013to2022(inmillions)ResidentialcondonumbersinJapan2013-2022876.946.856.756.656.546.436.336.226.1266543210201320142015201620172018201920202021202236Description:In2022,therewasastockof6.94millioncondominiumunitsinJapan.Thisconstitutedanincreaseofalmostonemillionunitssince2013.ReadmoreNote(s):Japan;2013to2022;figuresareestimatesasoftheendofeachyearSource(s):MLIT(Japan)NumberofnewcondominiumunitsinJapanfrom2013to2022,byregion(in1,000s)CondominiumunitsupplyinJapan2013-2022,byregionGreaterTokyoArea/Kanto120KinkiAreaTokai/ChukyoAreaKyushu/OkinawaHokkaidoOther5.751008060402001.699.525.964.518.484.360.985.788.675.124.46.796.378.094.751.215.751.141.231.6324.691.226.647.075.488.534.658.337.488.484.871.392.1458.456.354.391.1518.8118.935.820.9619.5618.685.3915.218.9518.0417.8657.68201346.06201441.55201538.54201836.96201637.36201735.41202132.57201931.53202227.99202037Description:In2022,thenumberofnewcondominiumunitsintheGreaterTokyoAreainJapanamountedto31.5thousand.Withasupplyofcloseto49.4thousandcondominiumunits,theGreaterTokyoandKinkiAreaaccountedforalmost70percentofthetotalsupplyofcondominiumsunitsinJapanthatyear.ReadmoreNote(s):Japan;2013to2022Source(s):RealEstateEconomicInstitute;TheRealEstateTransactionPromotionCenterAveragepricepersquaremeterofnewcondominiumunitsintheGreaterTokyoAreainJapanfrom2014to2023(in1,000Japaneseyen)SquaremeterpriceofnewcondominiumsintheGreaterTokyoArea2014-20231,4001,2001,2269511,0008006004002000936926879869859793779711201420152016201720182019202020212022202338/statistics/1368201/japan-condominiums-square-meter-price-greater-tokyoIn2023,thepricepersquaremeterofnewcondominiumunitsintheGreaterTokyoAreainJapanreached1.2millionyen.ThesquaremeterpriceofnewcondominiumsinGreaterTokyoincreasedby28.9percentcomparedtothepreviousyear.

ReadmoreNote(s):Japan;2014to2023Source(s):RealEstateEconomicInstitute;TheLandInstituteofJapanAveragepricepersquaremeterofnewcondominiumunitsinthe23wardsofTokyoinJapanfrom2013to2022(in1,000Japaneseyen)SquaremeterpriceofnewcondominiumsinTokyo's23wards2013-20221,4001,2821,2881,2511,2001,00080060040020001,1371,1231,0831,005987873865201320142015201620172018201920202021202239Description:In2022,theaveragepricepersquaremeterofnewcondominiumunitsinthe23wardsofTokyoinJapanamountedtoaround1.29millionJapaneseyen,reachingadecadehigh.TogetherwiththeTamaarea,andtwoislandgroups,thecentral23specialwardsconstituteTokyoPrefecture.ReadmoreNote(s):Japan;2013to2022Source(s):RealEstateEconomicInstitute;TokyoMetropolitanGovernmentAveragepricepersquaremeterofnewcondominiumunitsintheGreaterOsakaAreainJapanfrom2014to2023(in1,000Japaneseyen)SquaremeterpriceofnewcondominiumsintheGreaterOsakaArea2014-20239008007907747516916807006005004003002001000659630616582528201420152016201720182019202020212022202340Description:In2023,thepricepersquaremeterofnewcondominiumunitsintheGreaterOsakaAreainJapanreached790thousandJapaneseyen.ThesquaremeterpriceofnewcondominiumsinGreaterOsakaincreasedby2.1percentcomparedtothepreviousyear.ReadmoreNote(s):Japan;2014to2023Source(s):RealEstateEconomicInstitute;TheLandInstituteofJapanCHAPTER

07Second-handhousingmarketShareofthesecond-handhomemarketinthehousingmarketinJapanfrom2009to2018Shareofpre-ownedhomemarketinthehousingmarketJapan2009-201818.5%17.7%17.5%16.9%16.7%16.5%15.5%14.5%13.5%12.5%14.9%14.9%14.7%2013*14.5%201514.5%2018*14%13.3%201720092010201120122014201642Description:In2018,thesecond-handhomemarketinJapanaccountedfor14.5percentoftheoverallhousingmarket.In2009,thesharereachedapeakduetoadeclineinthenumberofconstructionstarts.

ReadmoreNote(s):Japan;2009to2018;*Estimatesfortheyear,basedonactualdatafromJanuarytoSeptember.Theshareisthenumberofexistinghometransactionsdividedbythesumofthenumberofhousingconstructionstartsandexistinghome[...]

ReadmoreSource(s):MinistryofInternalAffairsandCommunications(Japan);MLIT(Japan)ExistinghomesalesindexinJapanfrom2013to2022,bytypePre-ownedhomesalesindexinJapan2013-2022,bytypeDetachedhousesCondominiums12011511010510095114.5107.2114.5109.6113110109.2103.1108.2106.3107.8104.2103.9103.4103.2101.2101100.499.396.8201320142015201620172018201920202021202243Description:In2022,theexistinghomesalesindexforcondominiumsinJapanstoodat114.5indexpoints,upfrom113pointsinthepreviousyear.ReadmoreNote(s):Japan;2013to2022;basedonnumberofhousingtransactions;2010asbaseyearwithanindexof100;seasonallyadjustedfiguresSource(s):MLIT(Japan)AveragepriceofexistingcondominiumsintheGreaterTokyoAreainJapanfrom2014to2023(inmillionJapaneseyen)Averagepriceofpre-ownedcondominiumsintheGreaterTokyoArea2014-202350454045.7642.7838.7235.7334.3933.33353025201510531.9830.4828.8927.320201420152016201720182019202020212022202344/statistics/1405219/japan-existing-condominiums-price-greater-tokyoIn2023,theaveragepriceofsecond-handcondominiumsintheGreaterTokyoAreainJapanamountedto45.76millionJapaneseyen,upbysevenpercentcomparedtothepreviousyear.Theꢀresalepricepersquaremeterincreasedby6.9percentyearonyear.ReadmoreNo