The Real Estate Price Index for September shows a 0.6% increase in overall housing prices.

On December 28, 2023, the Ministry of Land, Infrastructure, Transport and Tourism released the real estate price index for September of the same year (residential) and the third quarter of the same year (commercial real estate). The index is calculated with a base of 100 for the average of 2010.

The seasonally adjusted overall residential index for the same month was 135.6 (a 0.6% increase from the previous month). By property type, the indices were as follows: residential land 114.6 (a 0.9% increase), detached houses 115.9 (a 0.2% increase), and condominiums for ownership 193.5 (a 0.7% increase).

In terms of metropolitan areas, the Greater Tokyo Area had an overall residential index of 147.1 (a 2.0% increase), residential land 132.5 (an 8.8% increase), detached houses 122.2 (a 0.1% decrease), and condominiums for ownership 189.0 (a 2.0% increase). The Nagoya area had an overall residential index of 114.2 (a 3.7% decrease), residential land 99.8 (a 7.4% decrease), detached houses 107.8 (a 1.7% decrease), and condominiums for ownership 179.9 (a 2.4% decrease). The Osaka-Kobe-Kyoto area had an overall residential index of 141.9 (a 1.2% increase), residential land 122.0 (a 1.3% decrease), detached houses 119.2 (a 3.4% increase), and condominiums for ownership 194.7 (a 0.7% decrease).

The residential index for Tokyo was 159.5 (a 2.7% increase), residential land 145.2 (an 18.2% increase), detached houses 129.9 (a 1.8% decrease), and condominiums for ownership 194.0 (a 2.4% increase).

Additionally, the seasonally adjusted overall index for commercial real estate in the third quarter of 2023 was 139.3 (a 1.6% increase).

Reprinted from: Real Estate Distribution Research Institute Co., Ltd. “R.E.port”

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