On the 31st, the Ministry of Land, Infrastructure, Transport and Tourism announced the construction starts statistics for the entirety of 2023 and December of the same year.
The number of newly started housing units in the same year was 819,623 (a decrease of 4.6% from the previous year), marking the first decrease in three years. The floor area of newly started housing was 64,178,000 square meters (a decrease of 7.0% from the previous year), marking a consecutive two-year decline.
In terms of usage, owner-occupied houses decreased by 224,352 units (a decrease of 11.4% from the previous year) for the second consecutive year of double-digit decline. Rental houses decreased by 343,894 units (a decrease of 0.3% from the previous year) for the first time in three years. Condominiums decreased by 246,299 units (a decrease of 3.6% from the previous year) for the first time in three years. Among condominiums, there were 107,879 units (a decrease of 0.3% from the previous year) and detached houses, there were 137,286 units (a decrease of 6.0% from the previous year).
In the three major metropolitan areas, the Greater Tokyo Area had a total of 293,837 units (a decrease of 2.5% from the previous year). The breakdown was 47,613 owner-occupied houses (a decrease of 13.6% from the previous year), 132,125 rental houses (a decrease of 0.2% from the previous year), and 113,079 condominiums (an increase of 0.4% from the previous year). The Chubu Region had a total of 92,874 units (a decrease of 7.0% from the previous year), consisting of 33,727 owner-occupied houses (a decrease of 10.1% from the previous year), 32,329 rental houses (a decrease of 2.6% from the previous year), and 26,265 condominiums (a decrease of 8.1% from the previous year). The Kinki Region had a total of 132,807 units (a decrease of 3.5% from the previous year), consisting of 29,279 owner-occupied houses (a decrease of 10.0% from the previous year), 59,336 rental houses (a decrease of 1.3% from the previous year), and 43,473 condominiums (a decrease of 0.6% from the previous year).
Additionally, the number of newly started housing units in December alone was 64,586 (a decrease of 4.0% from the same month of the previous year), marking a seventh consecutive month of decline. The floor area of newly started housing was 5,018,000 square meters (a decrease of 5.8% from the same month of the previous year), marking an eleventh consecutive month of decline. The seasonally adjusted annualized rate was 814,000 units (an increase of 3.1% from the previous month).
In terms of usage, owner-occupied houses numbered 17,031 (a decrease of 13.8% from the same month of the previous year), marking the twenty-fifth consecutive month of decline. Rental houses numbered 25,869 (a decrease of 3.6% from the same month of the previous year), marking a fifth consecutive month of decline. Condominiums numbered 21,320 (an increase of 5.5% from the same month of the previous year), marking an increase for the first time in seven months. Among condominiums, there were 9,722 units (an increase of 19.8% from the same month of the previous year), while detached houses numbered 11,470 units (a decrease of 4.2% from the same month of the previous year), marking a fourteenth consecutive month of decline.
In the three major metropolitan areas, the Greater Tokyo Area had a total of 24,332 units (an increase of 3.2% from the same month of the previous year), the Chubu Region had 7,093 units (a decrease of 10.7% from the same month of the previous year), and the Kinki Region had 12,205 units (a decrease of 7.1% from the same month of the previous year).
Reprinted from: Real Estate Distribution Research Institute Co., Ltd. “R.E.port”
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