UncategorizedReal Estate Price Index and Housing Overall Rose for 56 Consecutive Months

14332 min

The Ministry of Land, Infrastructure, Transport and Tourism released the real estate price index for July 2019 (housing) and the second quarter (commercial real estate) on October 30. The 10-year average of the index is 100. Good news for real estate owners: prices, especially for condominiums, continue to rise.

The housing index was 113.6 (up 0.7% year-on-year), rising for 56 consecutive months. Residential areas were 101.8 (down 2.5%), detached houses were 101.3 (down 1.1%), and owned condominiums were 146.9 (up 3.8%).

South Kantō (the Tokyo area)

The housing sector in the South Kantō area was 117.1 (up 1.7%). Residential land was 108.9 (up 0.5%). Detached houses were 100.5 (down 1.6%). Condominiums were 141.4 (up 3.4%).

The total for housing in Tokyo was 126.5 (up 1.8%), residential land was up 119.4 (up 1.6%), detached houses were 105.4 (down 1.7%), and condominiums were 146.7 (up 3.9%). Meanwhile, the real estate index for commercial real estate was 122.3 (down 0.8%).

Western Japan (Nagoya, Keihanshin, etc.)

The Nagoya area was 110.9 (up 4.5%), residential land was 104.1 (up 4.2%), detached housing was 103.2 (up 1.7%), and condominiums were 159.4 (up 13.8%). Residential properties in the Keihanshin area (which includes Kyōto, Ōsaka, and Kōbe) were 116.8 (down 2.0%), residential areas were 106.6 (down 3.9%), detached houses were 101.3 (down 3.2%), and condominiums were 152.7 (down 0.2%).