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%).
