On the 30th, the Ministry of Land, Infrastructure, Transport and Tourism released the Real Estate Price Index for August 2023 (Residential) and the second quarter of 2023 (Commercial Real Estate). The index is calculated with a base of 100 as the average for the year 2010.
The Comprehensive Residential Index for the same month (seasonally adjusted) was 134.9 (a 0.5% increase from the previous month). By property type, residential land was 113.6 (a 1.1% increase), detached houses were 115.3 (a 0.2% increase), and condominiums under separate ownership were 192.1 (a 0.4% increase).
In terms of metropolitan areas, the comprehensive residential index for the South Kanto area was 143.9 (a 0.3% increase), residential land was 119.9 (a 4.3% decrease), detached houses were 121.7 (a 2.7% increase), and condominiums under separate ownership were 185.5 (a 0.6% increase). The Nagoya area reported a comprehensive residential index of 119.0 (a 1.0% decrease), residential land was 108.1 (a 4.7% increase), detached houses were 107.6 (a 5.5% decrease), and condominiums under separate ownership were 186.2 (a 3.2% decrease). The Keihanshin area recorded a comprehensive residential index of 141.0 (a 1.4% increase), residential land was 125.4 (a 2.0% increase), detached houses were 114.1 (a 1.8% decrease), and condominiums under separate ownership were 196.3 (a 1.2% increase).
The comprehensive residential index for Tokyo was 154.7 (no change), residential land was 122.6 (an 8.2% decrease), detached houses were 132.9 (a 6.6% increase), and condominiums under separate ownership were 189.2 (a 0.8% increase).
For commercial real estate, the comprehensive index for the fourth quarter of 2022 (seasonally adjusted) was 137.0 (a 0.5% increase).
Reprinted from: Real Estate Distribution Research Institute Co., Ltd. “R.E.port”
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